Burberry posts record profits as revenues hit £2.33bn due to 'outstanding brand momentum'
Burberry has posted "record sales and profits" in its preliminary annual results, as the luxury brand's revenues grew by 17% to hit £2,330m.
Burberry: inside the luxury fashion house's flagship Regent Steet store
The brand's adjusted profit before tax rose 8% to £461m and its reported profit before tax was up 27% in the year to 31 March.
Burberry said its strong brand and business momentum was seen in its continued digital leadership in "engagement, operations and commerce", including its "innovative collaboration with Amazon, Apple and Google".
The retailer highlighted its focused investment in flagship markets, including four openings in Shanghai, and its focus behind outerwear, large leather goods and menswear as key growth drivers for the brand.
Burberry has highlighted Japan as a key new market to operate within, in order to secure future growth, and claims the "Japan transformation is well underway".
As part of the move into the Japanese market, which is the second largest luxury market globally, Burberry is investing in retail presence in key markets such as Tokyo and Osaka.
Beauty is also another key driver for the brand, which has now completed the building of its division's infrastructure and is now "positioned for growth" through new concepts such as "Brit Rhythm" and its "Burberry Beauty Box" creations.
Christopher Bailey, chief creative officer and chief executive, said: "Burberry delivered record sales and profit in 2013/14.
"The strength of this performance reflects sustained strategic focus, continued investment, disciplined execution and outstanding brand momentum during the year.
"As we enter a new chapter, our teams are united and energised by the opportunities ahead – from unlocking Japan, to accelerating beauty and further integrating the physical and digital to deliver distinctive experiences.
"While mindful of macroeconomic uncertainties and currency headwinds, we remain focused on the things we can control and confident of driving sustainable future growth, benefiting all our stakeholders."
This article was first published on marketingmagazine.co.uk
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