Burberry has revealed its financial figures for the first half of the financial year, reporting that profits have risen 42% to around £132 million GBP (approx. $173 million USD).
Announcing the performance figures in a statement, Burberry added that the profit rise was partly due to the “exceptional response” to Riccardo Tisci‘s “new creative vision.” Other reasons highlighted for the better-than-expected performance include the “endorsement from some of the world’s most followed influencers,” a strong wholesale response, and the label’s “go-to-market model,” which includes social selling and regular drops, and is described as “building brand heat.”
A statement from Burberry’s chief executive officer Marco Gobbetti attributed the growth to “the initial response from influencers, press, buyers and customers to our new creative vision and Riccardo’s debut collection has been exceptional. Mindful that we ware only in the first phase of our multi-year plan, we continue to manage dynamically through the transition. We confirm our outlook for the full year.”
In other fashion news, check out the best puffer jackets for Fall/Winter 2018.