Blog: Leonie BarrieIn the bag for Burberry

Leonie Barrie | 19 November 2007

Soaring demand for its luxury handbags helped Burberry Group to a 31% hike in first quarter profit last week. The company said accessories such as bags and shoes now account for 31% of group sales, and that luxury handbags make up 50-60% of its European and US retail sales.

The results show that wealthy consumers are continuing to spend on luxury items, and are perhaps more immune to a fluctuating economic climate than their counterparts at the other end of the market. In the US in particular, the company says it continues "to experience high volume growth driven by the strength of our product designs." And the price tag of one of its most popular lines, the silver studded Knight bag, is a mere GBP1,595 ($3,315).

But pinning its hopes on bags is another smart move. Bags are universal in the way that many fashions are not. And of course they’re not size specific. Rather than squeeze themselves into the latest fashions, may consumers would prefer to update their wardrobes with a bag that can be worn with a variety of looks and gives them the flexibility to keep in step with trends. 


BLOG

Trump and Brexit generate more confusion

Over the past month, Donald Trump and his team failed to offer any clear plan to ensure Americans would "Buy American, Hire American" - while the British government's attempts to clarify the specifics...

BLOG

Bangladesh works to resolve labour activist issues

The Bangladesh government was forced to respond late last week to pressure over its crackdown on labour activists after a number of global brands and retailers, including H&M and Inditex announced pla...

BLOG

US border tax a contentious issue

Fresh from their disappointment at seeing the Trans-Pacific Partnership (TPP) free trade deal abandoned last month with an executive order by President Donald Trump, the US apparel and footwear sector...

BLOG

Primark's sustainable cotton programme takes shape

With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...

just-style homepage



Forgot your password?