Blog: In 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.
Some of just-style’s more eagle-eyed readers might have noticed a small change to the menu bar on the homepage: the addition of the word re:source. Yes it might be a small change – but it marks the co...
Over the past week just-style has continued to try to unravel the potential ramifications of Donald Trump’s election as the next president of the United States....
One event dominated the international airwaves last week, and on just-style too we took a closer look at the surprise election of Donald Trump as the 45th president of the United States....
As the Brexit roller-coaster continues to twist and turn, and the US presidential election campaign nears its unpredictable and possibly protectionist end, there's no doubt these events – and the perc...
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Bagir CEO says suit-maker is back on track
- How would end of NAFTA affect US apparel industry?
- Trump trade policy – Who knows what he'll do?
- Bagir exports first trousers for H&M from Ethiopia
- US Q3 in brief - G-III Apparel, Express
- Fruit of the Loom CEO Medlin dies suddenly
- Crystal expands empowerment project to male staff
- Film documents Cambodia garment workers' stories
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack