Economy

Creative director Christopher Bailey leaves Burberry

Creative director Christopher Bailey leaves Burberry”

Even so, Mr Bailey's exit doesn't look entirely of his making, whatever the fluff about it being "the right time for him to pursue new creative projects".

Gobbetti was expected do all that alongside Bailey, Burberry's president and chief creative officer, but that was not to be: On Tuesday, Bailey said he plans to step down in 2018 after 17 years on the job.

Bailey, who will retain his roles until 31 March, will provide support to the board on a transition basis until 31 December 2018. "In that time, Burberry has grown from a small licensed outerwear business to become one of the world's largest and most admired global luxury brands". "Burberry encapsulates so much of what is great about Britain", Bailey said in a statement.

"We have a clear vision for the next chapter to accelerate the growth and success of the Burberry brand and I am excited about the opportunity ahead for our teams, our partners and our shareholders".

The heat is on to find Christopher Bailey's successor at Burberry, and the question remains, will Marco Gobbetti be true to his word?

The 46-year-old designer was paid £3.5m in the year to end-March.

The news, however, did not come as a complete surprise as Bailey stepped down as CEO earlier this year to focus on creative and design while Marco Gobbetti succeeded him as the new chief executive.

"It is part of the establishment, but it is always changing, and always learning".



Like this

Latest


01 November 2017
Andra Ap-fonden Modifies Its Holdings in General Mills, Inc. (GIS)
Ameriprise Fincl, Minnesota-based fund reported 3.48M shares. 1832 Asset Mgmt LP holds 100 shares or 0% of its portfolio. The fund owned 39,968,232 shares of the company's stock after purchasing an additional 533,919 shares during the period.

01 November 2017
Estee Lauder pops after earnings smasher
Public Employees Retirement System of OH boosted its stake in Estee Lauder Companies by 2.5% in the second quarter. Following the sale, the executive vice president now owns 84,909 shares in the company, valued at C$8,066,355.

01 November 2017
Nicki Minaj Clears Up Conspiracy Theories Surrounding 'Motorsport'
Revealing just how involved she is in getting her features cleared Nicki added, "Anything w/my name on it gets approved by me". Nicki went on to clarify that any published music has to get her written approval before being sent to streaming services.

01 November 2017
Is Stock's Performance Impressive? Pioneer Natural Resources Co. (PXD)
BDO Wealth Advisors LLC acquired a new position in Pioneer Natural Resources in the 2nd quarter valued at approximately $120,000. Clear Harbor Asset Management, LLC divested its position by selling 462 shares a decrease of 0.6% from 06/30/2017 to 09/30/2017.

01 November 2017
Maruti Suzuki sales up 9.5% to 146446 units in October 2017
Its domestic sales stood at 1,36,000 units, up 9.9 per cent from 1,23,764 in October previous year , MSI said in a statement. Similarly, compact vehicle sales went up by 24.7 per cent with 62,480 units against the 50,116 units sold in October 2016.

01 November 2017
4 dead, several injured as boiler explodes at NTPC plant in UP
Meena added that relief and rescue operations were launched immediately and the injured were being rushed to nearby hospitals. According to reports, the unfortunate incident happened after the steam pipe of the boiler plant burst open.

01 November 2017
Global Discharge Stage Lighting Market: GOLDENSEA, PR Lighting and Robert juliat
The segmented study based on regions , applications and Airport Lighting type will offer all the minute details to the readers. According to the application , Airport Lighting market categorized into Civilian and Commercial Airport and Military Airport.

01 November 2017
Jeremy Lane reportedly fails physical, which changes the Seahawks-Texans trade
Chris Clark took over as the starter and is expected back from the calf injury that left him inactive for the Seattle game. In the new deal, Seattle will give up a higher draft pick to account for Lane not being included in the deal.

01 November 2017
Henry the hippo has died, zoo says
The zoo said Tuesday the average life expectancy for a Nile hippopotamus such as Henry is 35 years. He was paired with Bibi and the couple welcomed little Fiona in January.

01 November 2017
Long: Denny Hamlin did not need to apologize for Chase Elliott wreck
Down the backstretch, Elliott steered his vehicle into Hamlin's before the two drivers angrily exchanged words right out on the track.



Recommended