Must Read: Burberry Denies Rumors of Riccardo Tisci's Departure, Grocery Stores Are Becoming Increasingly Important Beauty Retailers
Plus, Christian Siriano receives state funding to produce PPE.
Following 'Noose' Hoodie Controversy, Burberry Announces New Diversity and Inclusivity Initiatives
"The distress we caused with one of our products last week has shown us that we are not where we need or want to be," said Burberry CEO Marco Gobbetti in an official statement.
Must Read: Losses Deepen at Victoria Beckham's Fashion Label, Luxury Retail Hit by Paris Protests
Plus, Marco Gobbetti and Riccardo Tisci haven't given Burberry the boost it needs.
Burberry Had A Tepid First Quarter As It Continues to Streamline Business
Newly announced CEO Marco Gobbetti won't be joining until 2017, but there are plenty of plans to perk things up in the meantime.
Burberry's Christopher Bailey Hands Over CEO Title
And Céline's CEO is stepping in.