For the third quarter Burberry’s like-for-like sales inched up one per cent. Reported retail revenue dropped one per cent and on a currency-neutral basis, it was down two per cent. During the quarter, sales in China were up in the mid-single-digits.
The company is continuing to shift consumer perceptions of the brand, driving increases in digital engagement and endorsement from key influencers. It is building brand heat through its festive campaign, Vivienne Westwood collaboration and B-series product drops.
The company is still in the first phase of its multi-year plan to transform and reposition Burberry. It is transitioning from the straight see-now, buy-now model to a more nuanced approach. It has used the monthly B-series to generate a continuous flow of limited-edition products and keep consumers coming back for more. Sold predominantly through social media, these collections resonated strongly with new and younger customers and have been endorsed by key influencers around the world. In China, the B Series was recognised as 2018's most exciting luxury campaign on WeChat.
The collection with Vivienne Westwood also saw strong global demand and attracted exceptionally high traffic to its digital platform. Burberry’s social media presence is growing, with more than a million additional followers across Instagram and WeChat.
