Burberry Is "Very Confident" That Riccardo Tisci Will Stay as Creative Director
Revealed alongside the house’s quarterly reports.
Burberry has shared its first quarter trading reports, showing a return to pre-pandemic levels of growth. As well as announcing the results — which outperformed analysts’ predictions by 13% — the London-based label also discussed the future of creative director Riccardo Tisci.
According to Business of Fashion, Burberry CFO Julie Brown revealed that the house was “very confident” Tisci would remain in post following the surprise decision of CEO Marco Gobbetti to join Ferragamo. Adding that Tisci remained “excited” about his project at Burberry, Brown did not say how long the creative director was contractually obliged to continue in his role. Last year, Tisci had been linked with a move to Versace, although that was quickly denied.
Overall, Burberry’s sales were 1% higher than the same period in 2019, bringing in $664 million USD in the quarter ending June 26. While this is a modest increase since pre-pandemic levels, it is a 90% climb since last year’s comparable period. In the call with reporters, Brown also said, “We’ve got a very clear strategy, we’ve got a very capable senior executive team, we’re very capable of managing the transition and taking the business forward.”
In other business news, Levi Strauss recently exceeded revenue expectations for the quarter.
