From the editor: Digital luxury
Colin GrimshawWarc
The tale of Burberry's turnaround made news again with the announcement that its CEO, Angela Ahrendts, was leaving to take up a senior retail role at Apple. Analysts reacted negatively – £500 million was wiped off the fashion brand's FTSE-100 value.
This downgrading of Burberry's future signals fears that the brand may struggle to continue its remarkable growth story post-Ahrendts. At the end of fiscal 2012, Burberry's revenues and operating income had doubled over the previous five years, to $3 billion and $600 million, respectively.
The company's fortunes were rather less promising...