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".



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