BURBERRY’S new boss Christopher Bailey unveiled a fresh management structure yesterday to help reassure investors that he is the right person to lead the luxury goods group.
Bailey, who has been at Burberry for 12 years, will replace Angela Ahrendts when she steps down next year to take up a new role with Apple.
However, he will also retain his role as chief creative officer – an unusual dual role that has unnerved investors given the size of the task and Bailey’s lack of experience running a company.
Speaking to investors yesterday Bailey said 12-year Burberry veteran Luc Goidadin had been promoted to the newly created role of chief design officer to help with his workload.
Burberry will also be restructured under three pillars: design, product and communication, regions and operations and finance.
“This will allow me to continue to remain fully involved in setting the creative direction and vision for the brand,” Bailey said.
The reshuffle came as the fashion brand said sales had topped £1bn for the first time, rising 17 per cent in the six months to 30 September. Adjusted pre-tax profits were flat at £174m.
Ahrendts said: “Burberry is in great shape and brilliantly positioned for the future…I would never consider leaving if I didn’t know the company was not as strong as it has ever been and if Mr Bailey was not ready to take the baton.”