Burberry in overseas expansion drive
Burberry has announced a joint venture in the Middle East with franchisee Jashanmal Group. Burberry Middle East will manage all the group’s retail and distribution in the region under a 15-year contract. Like-for-like sales have increased by more than 40% in the region in the year to date.
Burberry also announced a joint venture with Japanese licensing partners Sanyo Shokai and Mitsui & Co to grow its distribution of non-apparel merchandise through retail stores in the country.
In the six months to September 30th, Burberry reported a pre-tax profits rise of 1% to £97 million, with group revenues up 20% to £593 million. Retail sales since then have been ahead of last year but down by a ‘mid-single digit percentage’ on a like-for-like basis.
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