Burberry's Christopher Bailey says Brexit is 'enormous' opportunity for growth

Alys Key
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Burberry Menswear Spring/Summer 2016 - Front Row & Show
Bailey was bullish on the potential for growth (Source: Getty)

Burberry chief creative officer and former CEO Christopher Bailey said this morning that Brexit is an "enormous" opportunity for UK industries.

Bailey, who stepped down from his role as chief executive of the British luxury fashion brand in July, told the BBC's Today Programme that "Britishness resonates globally", creating worldwide opportunities for growth.

Read more: Strong Chinese growth sews up improved performance for Burberry

But he added that he hoped a climate which was critical of migration would not threaten the UK's "thriving creative culture".

Bailey and Burberry chairman Sir John Peace were both signatories on a letter last year which made the case that Brexit would be bad for business, urging the British public to vote to remain.

Bailey handed over to Marco Gobetti earlier this year to focus on his creative role. But he faced a shareholders revolt at the company's AGM this year, as investors disappointed by his leadership objected to his pay packet.

His comments coincided with the first day of London Fashion Week. Preparations are underway for Burberry's show tomorrow, breaking from the brand's traditional slot at the end of the event.

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The British Fashion Council put out figures this week estimating the UK's fashion industry to be worth £66bn, contributing £28bn to the UK economy.

Around 880,000 jobs are thought to be supported by the industry.

The web-based fashion and footwear market in the UK is currently worth £9bn.

Over the five days of London Fashion Week, photographers are set to take 45,000 photos, and fashionistas are expected to drink 20,000 espressos.

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