Burberry is pinning its hopes on a boom in the popularity of Britishness to revive sales as the fashion label gets set to update investors on Wednesday.
Earlier this month, the FTSE 100 firm’s boss Joshua Schulman said the UK’s style, a mix of traditional and funky, was turning into ‘a global language’ whose ‘stories’ resonated worldwide.
The label has also been appearing more frequently in celebrity wardrobes including that of Traitors host Claudia Winkleman, whose signature look is UK country wear with a punk twist.
Focusing on such outerwear and the brand’s trench coats is driving the turnaround at Burberry, with its shares up 27 per cent on a year ago.
UK country wear with a punk twist: Burberry has been appearing more frequently in celebrity wardrobes including that of Traitors host Claudia Winkleman
As a result, investors will be hoping for an upbeat outlook when the firm reports trading figures for the final three months of last year.
Broker RBC has estimated that Burberry’s sales for the period will be flat at £658 million, though in a note earlier this month it forecast ‘a material improvement’ in the ‘quality’ of sales.
It added that a key focus will be trading trends and whether Schulman’s turnaround strategy, which has included attempts to appeal to younger, aspirational consumers and lowering the price of some Burberry items, is showing signs of bearing fruit.
Investors will be hoping the firm can replicate the success of Richemont, which this month flagged a rebound in demand for luxury items in the key Chinese sector, a key source of sales for Burberry too.
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