LONDON – Luxury goods maker Burberry says it will place greater emphasis on the American market as it prepares for the departure of designer Christopher Bailey.
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The announcement came as Burberry said net income rose to 93 million pounds ($122 million) in the six months ended Sept. 30 from 72 million pounds in the same period last year.
Bailey, the company’s chief creative officer, announced Oct. 31 that he plans to leave Burberry in 2018, ending a 17-year stint in which he helped transform the brand into a global luxury icon. He previously stepped down as CEO after struggling to reinvigorate sagging sales in the company’s key Asian markets.
Burberry says it plans to place more emphasis on the U.S. as it targets 120 million pounds of annual cost savings by 2020.
