It’s time to add another point to Burberry’s score in the race for luxury industry dominance.
In the second quarter of Burberry’s fiscal year, the company’s retail sales were up 5%. Pretty good.
This quarter was even better. Burberry reported an impressive 16% jump in retail sales. Stores that have been open at least one year saw sales increase by 10%. And the brand’s wholesale business was bumped up by 5%.
Accessories and outerwear were, unsurprisingly, big hits globally. What’s really fascinating, though, is the company’s success in stagnant Europe. While other luxury goods brands rely on emerging markets to make up for lackluster sales in Europe and the States, Burberry has upped its company-run operations in older economies, opening five new stand-alone stores last year, including additional doors in London, New York and Tokyo, Asia’s only mature market.
When you consider its awesome sales figures and savvy social media skills, it’s obvious that there are few luxury companies out there on par with Burberry.