LONDON - [16.04.08] Luxury-goods group Burberry has shrugged off the malaise currently sweeping through the retail industry to report an 18% increase in second half revenue to £546 million.
Overall, retail sales increased 17% to £282 million in the six months to March 31, accounting for more than 50% of the group’s total revenue. Wholesale revenue in the six months increased by around 25% to £219 million, while licensing revenues were flat at £45 million.
Over the year, Burberry has concentrated on expanding its retail network with the addition of 40 concessions as well as its first standalone childrenswear store, located in Hong Kong. It has also aimed to generate growth through expansion in emerging countries such as mainland China where the clamour for luxury goods continues apace as well as in the United States where sales figures were up 20%.
It has also made a push into accessory products such as silk scarves, shoes and handbags which account for over 30% of revenue.
Looking forward, Burberry will be delighted with the momentum of its brand as the core luxury, retail and non-apparel strategies continue to gain traction. Behind the scenes, the management team has also focused on improving the operational aspects of the business as it continues to pursue its strategy of investing in under-penetrated markets.
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