has named Jonathan Akeroyd as its new chief executive officer from next April, poaching the boss of Milan-based Gianni Versace and former Alexander McQueen head to succeed Marco Gobbetti.
"The timing of his start date suggests Burberry is unlikely to present an updated strategy until Q3/Q4 2022 at the earliest, thus delaying its turnaround even further," UBS analysts said in a note. "Jonathan is an experienced leader with a strong track record in building global luxury fashion brands and driving profitable growth," Burberry chair Gerry Murphy said.
However, its pre-pandemic annual sales of $843 million are still well below a $2-billion target set by Capri for the brand. Like other luxury brands, Burberry was hit by COVID-19, but it has recovered, driven by demand in Asia.
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