Burberry Shares Fall as Major Investor Pulls Out

Dropping by over 7%.

By
Fashion
11,297 Hypes 6 Comments

Burberry group shares have fallen by 7.7 percent after a major investor — Belgium-based GBL, which also owns shares in adidas — sold its entire stake in the British company. GBL has been purchasing shares in the Riccardo Tisci-led house since March 2017, before increasing its stake following the appointment of Marco Gobetti as CEO. Before selling its stake, the full holding stood at 27.6 million shares, around 6.6%, with the sale raising around £498 million GBP (approx. $675 million USD).

GBL’s decision to sell the stake is to allow the company to invest elsewhere. As the co-CEOs announced, the sale gives them a “capital gain of approximately £83 million GBP” and that these proceeds “will be redeployed into other investments, in line with GBL’s portfolio diversification strategy.” This is the latest bad news for Burberry, with the company also announcing a drop in profits almost exactly a year ago.

In other fashion news, 032c has announced an interdisciplinary festival in Berlin.

Read Full Article

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

1086 Users Online

What to Read Next

Here's the Official Store List for the Virgil Abloh x Converse Chuck 70
Footwear

Here's the Official Store List for the Virgil Abloh x Converse Chuck 70

All the raffles you’ll need to enter.

Here's Hollywood's Best-Paid Actors
Entertainment

Here's Hollywood's Best-Paid Actors

The top of the list might surprise you.

Ignored Prayers Expresses Subcultural Leanings With Latest SS18 Drop
Fashion

Ignored Prayers Expresses Subcultural Leanings With Latest SS18 Drop

Along with a collaboration with artist Hassan Rahim.


Ioaiao Creates Luxe Gold and Marble Home Decor Pieces
Design

Ioaiao Creates Luxe Gold and Marble Home Decor Pieces

Featuring classic Nike Air Force 1s and basketball nets.

adidas Expands “Winning Collection” to Include NEIGHBORHOOD & White Mountaineering
Fashion

adidas Expands “Winning Collection” to Include NEIGHBORHOOD & White Mountaineering

More World Cup-themed pieces.

TAKAHIROMIYASHITA TheSoloist. Reworks Converse Japan's Jack Purcell Silhouette
Footwear

TAKAHIROMIYASHITA TheSoloist. Reworks Converse Japan's Jack Purcell Silhouette

In tribute to Kurt Cobain.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.