Friday, 27 January 2017

Burberry Sales Soar

The Brexit vote and the slump in sterling that followed the referendum has delivered a big boost to sales at luxury label Burberry – powered by overseas shoppers who have flocked to the UK to stock up on branded goods. The classic British label, famous for its beige check design, said sales in the UK surged by 40% in the final three months of 2016, boosted by strong demand for goods such as its buckle bags, which start at around £500 for a mini leather version and climb to £8,000 for an alligator version. One reckons that about 70% of shoppers visiting the brand’s flagship outlet are now tourists from China, a big surge in the last yearThe cheapest item on offer is a £14 nail varnish and the most frequently bought items are “charms” for fixing to handbags or keys, including tiny teddies for £150 and sequinned hearts for £105.