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

Act now to keep receiving just-style newsletters

You may have noticed a red alert bar at the top of just-style’s weekly and daily newsletters asking you to “Act now to keep receiving the just-style newsletter.” ...

BLOG

Apparel imports into the US rose in June

Apparel imports into the US rose in June as merchants stocked up for summer and prepared for the back-to-school season, with imports from Vietnam continuing to surge....

BLOG

US retailers under pressure to grow sales as mall traffic slows

Under Armour is to close stores and cut jobs – around 2% of the company's global workforce – as part of new plans to build a stronger and smarter company with faster go-to-market speed and greater dig...

BLOG

Agile logistics key to new hybrid retail world

US retail giant Walmart has topped a list of the fastest growing retailers thanks to its investment in ensuring it has the right balance between its online and brick and mortar operations....

just-style homepage



Forgot your password?