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15-10-2013
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Christopher Bailey to head Burberry Group
Apple Defection Puts Christopher Bailey On Top at Burberry Group

By James Davey
and Kate Holton


LONDON -- Christopher Bailey, the designer credited with restoring the cachet to fashion brand Burberry, is to become chief executive next year when long-standing boss Angela Ahrendts will move to Apple.

The 157-year-old British fashion house, famous for its camel, red and black check pattern, said Tuesday that Ahrendts would step down by mid-2014 after which Bailey would combine his role as chief creative officer with chief executive.

News the 42-year-old Yorkshireman would hold both positions sparked concern among some analysts that he might be taking on too much, and sent shares in the group down 6 percent in early trading, valuing the business at 6.6 billion pounds.

"There will undoubtedly be relief that Mr. Bailey, the driving force behind the brand for the last 12 years, is staying," Morgan Stanley (MS) said in a note to clients.

"But we anticipate some investor concern about combining the chief creative officer and CEO roles, which are both time consuming and require very different skill sets."

Ahrendts, who has been Burberry (BURBY) boss for eight years, during which time its share price has soared about 250 percent, will take up a newly created position at Apple as a senior vice president with oversight of retail and online stores. She will report directly to CEO Tim Cook.

Ahrendts will be looking to do better than the last chief executive of a British company who left London to join Apple (AAPL) -- John Browett who quit Dixons to lead the iPad and iPhone maker's global retail expansion in 2012. He left six months later.

Bailey joined Burberry in 2001 and has held the major creative role for six years, helping to rebuild the group after it became a victim of its own success in the 1990s when its trademark pattern was embraced by the mass market, losing its appeal to its core wealthy clientele.

Under Ahrendts and Bailey, the group has refocused on the luxury market, increased its store base and expanded rapidly in emerging markets such as China, and it reported first-half results Tuesday showing the benefits of that approach.

"The strategies which have underpinned our success in recent years will remain unchanged as Christopher has been an integral part in developing these over the last 12 years," chief financial officer Carol Fairweather told reporters.

'Profoundly Moved'

Burberry, which boasts Cara Delevingne and Jourdan Dunn as faces of the brand, reported retail revenue up 17 percent to 694 million pounds ($1.11 billion) in the six months to Sept. 30 -- in line with analyst forecasts.

Its total revenue was 1.03 billion pounds, up 14 percent.

"I am profoundly moved and humbled to be asked to take on the CEO role at this company that means so much to me," said Bailey. "I also feel privileged to be keeping my role as chief creative officer, as I believe that creativity and innovation have been at the heart of our success in the last ten years."

Shares in Burberry, up 41 percent over the last year, recovered some of their losses in early trading to be down 3.8 percent at 1,524 pence at 3:50 a.m. Eastern time.

"The impressive update has been overshadowed by the news that the chief executive will be leaving the company next year," brokers Hargreaves Lansdown said.

Burberry's first-half revenue growth was driven by robust demand for outerwear and large leather goods.

Retail sales from stores open at least a year grew by 13 percent, helped by double-digit growth in the Asia Pacific and the Europe, Middle East, India and Africa divisions and high-single digit growth in the Americas.

Burberry said in May first-half pretax profit would be below last year's 173 million pounds as its focus shifts from wholesale markets -- sales through non-Burberry stores -- to high-growth Latin American and Asian retail sales from Burberry branded stores.

dailyfinance

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15-10-2013
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Thanks for the post HeatherAnne!

Ironic how Bailey was able to completely rescue the moldy Burberry brand from just another tired license by giving it such spectacular, trendsetting life initially. But now... that dazzling life is clearly drawing its last breath, and with him being in the CEO position, looks like Burberry will be back to its former bland consumer brand-hustling self.

Hope to be proven wrong and that it was really Ahrendts who was the bland consumer-oriented pusher, and now Bailey will be back to his old dazzling self.

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15-10-2013
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This is an Herculean undertaking by Bailey. I find it infeasible for him to successfully oversee up to 50 collections per year (Prorsum, Burberry Brit, Burberry London, children, cosmetics, fragrance, etc.), manage the brand's image (campaigns, web and social presence, brand events, store designs), and run a rapidly growing multi-billion dollar global business.

He will undoubtedly have help, but even Karl would say this is too much

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20-10-2013
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Quote:
Christopher Bailey named president of Burberry, while Marco Gobbetti appointed chief exec

Hayley Kirton
Monday 11 July 2016 2:10pm

Christopher Bailey, who is currently Burberry's chief exec, will become the company's president in 2017 (Source: Getty)

Fashion designer Christopher Bailey has effectively been appointed as king of the trench coat today, after Burberry named him as president.

Meanwhile, Marco Gobbetti, current chairman and chief executive of French luxury brand Celine, has been appointed chief executive to fill Bailey's shoes. Both will move into their roles at some point in 2017.

In a statement, the company said that the senior management moves were part of an ongoing business review, designed to hone in on growth opportunities.

"Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us," said Bailey. "I am delighted to welcome Marco and I am looking forward to working closely with him alongside the rest of our highly talented teams.

"On a personal level, I know that we are going to enjoy a wonderfully collaborative partnership that makes me very excited for our future at Burberry."

Burberry chairman Sir John Peace added: "Since taking on the combined role of chief executive and creative chief, Christopher Bailey has done an excellent job set against a backdrop of challenging market conditions.

"The review that he has led into our ways of working is the blueprint for the next phase of Burberry's evolution. In order to maximise our ability to successfully implement these plans, Christopher identified the need for a new chief executive for the business who could partner with him as we execute on the new strategies and I am excited to see what they will do together."

Shares in the luxury brand are trading up 6.3 per cent at 1,235p at time of writing. Before the announcement was made, shares had been trading at roughly one per cent above market opening price.
Source: http://www.cityam.com/245195/christo...ry-while-marco

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Burberry started to be horrible.
It was a luxury pure but now it is simply one emmore bored show in Fashion Weeks shedule...

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I applaud him for taking on so many responsibilities, but this can't end well--at least as far as the fashion aspect of the brand is concerned. The collections have not been relevant for a while now. It may be time for a new creative director, no?

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This is how you can really destroy a heritage house. Like he was the first one Burberry should have fired because his collections hasn't been exciting or even pretty. Instead of that he's the president of the brand. It's totally out of logic and I think Burberry will be in a worse state than it is now. It just can't end well in any way.
And to me the close relationship with Apple is quite strange, don't you think?

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Lately all the news about Burberry seems to be on the business side when in fact, it should be on the fashion side or at least, in the runway.
No matter the position Bailey has at the house, if the collections are not desirable or at least worth-talking about, the house will continue to lose it fashion relevance (+ It has become very expensive lately).

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Bailey needs to not fill in any business position like that and instead solely focus on the fashion part of the brand. The past collections have been lackluster and I haven't bought from them since SS2013. It's sad, Burberry was my favorite brand, and now they have nice clothes, nothing that pulls me in. I feel this is a similar feeling across other people. I read... I forgot where, that he was mostly likely voted off as CEO by shareholders (I think at TheFashionLaw).

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Honey, he can be president of Burberry, he can be head of design, but he can't be both. It's just not possible, esp. with a huuuuuuuge company like Burberry.

For me, coincidentally, once his shows left the Milan schedule for London (which was how many years ago?), my interest in the other Milan shows began to dwindle. Now, I don't see anything worthwhile in Milan..and I especially don't see anything worthwhile in London.

I wouldn't be surprised if he just retires from the design side of Burberry and finds a new Creative Director altogether.

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I also don't think he can do both, he should retire.

They should show at menswear fashion week again.. it's weird without Burberry in FW. It makes you forget all about it.

A shame though since Burberry used to be so good but now it's just so boring.

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