The Burberry brand's sales in the Chinese mainland market have declined, but the brand stated that it will stick to its original development strategy and continue to maintain plans to open 10 stores each year in the Chinese market. After the Burberry brand released its sales data last month, it really shocked many luxury brands and caused the brand's share price to fall by 21%. The brand expressed that it is always confident in the Chinese market and will adhere to its original development strategy. It is expected that in the future, 68 Burberry stores in 32 cities will be increased to 100.
For the three months ended September 30, the Burberry brand's revenue rose 2.6% to 475 million pounds, and this relatively slow growth rate was mainly due to the decline in sales in the Chinese and UK markets. Compared with the first quarter, the growth rate of Hong Kong, France and Germany maintained a good momentum, but in the UK, the Chinese market has slowed down, while the Korean and Italian markets have been relatively weak.
The Burberry brand also announced that it will take back the brand's original beauty products and perfume business produced on behalf of Inter Parfums and turn it into a brand independent production model. During the six months ended September 30, the Burberry brand's revenue rose by 6.4%. Reached 883 million pounds.
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