Burberry is moving 300 jobs from London to Leeds as it heads to the "home of the trench coat"

 
Emma Haslett
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Burberry - Runway - LFW February 2017
Burberry said the move will help it generate "significant" savings (Source: Getty)

Trenchcoat maker (and poncho innovator) Burberry has unveiled plans to move 300 jobs to Leeds as it "reinforces our commitment to the... home of our trench coat".

The company, whose sales have wobbled in recent years, said it was opening a new "centre of excellence" in the city, with finance, HR, procurement, customer service and IT roles slated to be moved north.

Burberry said the move will allow it to become more efficient, as well as generating "significant" savings by cutting office space in London.

"This is an important move for Burberry as we continue to deliver on the strategic priorities we outlined last year," said Christopher Bailey, the company's chief exec and chief creative officer.

"In addition to the benefits it will bring to the business, opening an office in Leeds reinforces our commitment to the UK and to Yorkshire, home of our iconic trench coat."

Last month Burberry posted first-half figures showing retail sales had increased three per cent in the six months to the end of March, although underlying wholesale sales fell 13 per cent. That caused shares to fall 6.5 per cent on the day as investors worried weak sterling was masking a drop in revenues.

Today shares were up 1.8 per cent, at 1,610p.

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