Christopher Bailey, the president and chief creative officer of British luxury fashion brand Burberry, is to step down after 17 years at the company.
Bailey, who will retain his roles until 31 March, will provide support to the board on a transition basis until 31 December 2018.
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Since joining the company in 2001, he has driven Burberry’s transformation from a small licensed outerwear business to one of the world’s largest global luxury brands. Now Bailey says it is the right time for him to pursue “new creative projects.”
He was appointed CEO and chief creative officer in May 2014, but in July this year was succeeded as CEO by Marco Gobbetti. Since then, Gobbetti and Bailey have worked together to “shape an ambition and a strategy for the next chapter” to accelerate the growth and success of the Burberry brand.
“Burberry has undergone an incredible transformation since 2001 and Christopher has been instrumental to the company’s success in that period,” says Gobbetti. “While I am sad not to have the opportunity to partner with him for longer, the legacy he leaves and the exceptional talent we have at Burberry give me enormous confidence in our future.
“We have a clear vision for the next chapter to accelerate the growth and success of the Burberry brand and I am excited about the opportunity ahead for our teams, our partners and our shareholders.”
Bailey “modernised the brand with its continued focus on innovation, digital and shopper experience, which will support future growth,” notes GlobalData analyst Charlotte Pearce.
However, she also notes: “With just over a year until Bailey leaves, there is plenty of time for Marco Gobbetti, who took over as CEO in July, to find the right candidate to fill Bailey’s shoes. It is crucial that Burberry finds someone with respect for the brand’s British heritage but is able to further evolve the label creatively and bring it into a new era.”
