Burberry’s sales in China are down 23 per cent. Covid-related disruptions in mainland China largely offset a stronger performance in Europe.

Burberry’s like-for-like sales in Europe, Middle East, India and Africa grew 19 per cent. Europe in particular continued to perform well, driven by strong trading over the festive period, and leather goods delivered another quarter of double-digit growth globally.

The company, known for its black, red and camel check, is pleased with its performance overall and remains confident of achieving its medium-term targets despite the tougher macro-economic environment. v

British luxury brand Burberry has an extraordinary legacy, a unique British heritage and a very strong platform to build on. The strategy also aims at refocusing on Britishness and strengthening the connection with British design, craft and culture.

In January 2022, Burberry’s higher quality business saw its full-price sales rise 26 per cent in the quarter versus comparable 2019 levels, while its total same-store sales slid three per cent. Burberry has been pursuing a fusion between social media celebrities and the blockchain, including the launch of NFTs in the gaming world. Burberry’s ultra-savvy marketing drives are helping the company win new style-hungry customers across the world, desperate to get their hands on a slice of the brand and willing to pay full price for the privilege.