Burberry announces global expansion of beauty as 1H results reveal flat revenue

Burberry announces global expansion of beauty as 1H results reveal flat revenue

Burberry has announced its interim results for the six months ended September 2016, reporting flat revenue, which stuck at £1,105 million and an uplift in profits to the tune of 4 percent (5 percent underlying).

The brand has identified beauty as one of the key growth opportunities going forward, an expansion of global distribution of beauty in store and online with key partners is on the cards for the second half. Burberry also revealed that  the brand’s festive film, which launched last week, accruing 11 million views across its social media platforms in just 48 hours.

“This robust performance reflects decisive action as the external environment became more challenging in key markets over the period. We enter the second half mindful of this backdrop, but confident in our strongest-ever festive plans and emphasis on productivity and efficiency,” said Christopher Bailey, Chief Creative and CEO.

“Beyond these immediate priorities, we remain focused on building Burberry for long-term, sustainable growth and value creation. In an evolving luxury environment, we see compelling opportunities by channel, region and product, underpinned by the strength and distinctiveness of our authentic British brand.”

The British luxury label is forecasting double-digit underlying growth in the Beauty division for the second half, driven by sales to distributors of its new male fragrance, Mr Burberry.

 

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