Friday, August 12, 2022

Burberry ramps up its business in China

Luxury fashion retailer Burberry has bought out the remaining 15 per cent stake in its Chinese distributer, effectively taking full control of its operations there.

The UK brand‘s £54 million acquisition from Sparkle Roll Holdings – which first bought a stake in 2010 – allows Burberry to cement its presence the lucrative Chinese market.

The news comes after Burberry posted stagnant results in its first quarter last month, and when its shares spiked after the company sidelined chief executive Christopher Bailey.

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