Head Topics

Burberry eyes Tencent partnership to target ‘luxury’ customers

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

South Africa Headlines News

With social networks such as Instagram banned in China, the deal with Tencent can bolster the brand’s visibility in the luxury market

People queue outside a Burberry store on Regent Street, London, the UK. Picture: REUTERS/HENRY NICHOLLS

The move came as Burberry reported six-month earnings that beat estimates, helped by demand for designer Riccardo Tisci’s new look. The shares rose as much as 9%, the most since July. With popular social networks such as Instagram banned in China, the deal with Tencent can bolster the brand’s visibility in that market. The move comes as luxury brands are taking a hit to sales from the continuing anti-Beijing protests in Hong Kong. Burberry said sales fell by a double-digit percentage in the territory.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lighthouse Capital targets 5% distribution growth as it eyes Iberian mallThe group formerly known as Greenbay Properties has been granted exclusivity for deal
Source: BDliveSA - 🏆 12. / 63 Read more »

THE LEX COLUMN: Alibaba’s Hong Kong homecomingSecondary listing will give Tencent a run for its money
Source: BDliveSA - 🏆 12. / 63 Read more »

WATCH: Inside Springbok Tendai 'Beast' Mtawarira's modern home | IOLBeast Mtawarira's modern luxury home is located in KwaZulu-Natal’s Dolphin Coast. IOLTravel
Source: IOL - 🏆 46. / 51 Read more »

Business Maverick: Tencent Slides 2% After Earnings Miss Lowest Analyst’s EstimateTencent Holdings Ltd. slid more than 2% after reporting earnings below the lowest analyst’s estimate, underscoring the Chinese internet giant’s challenges in reviving growth during an economic slowdown.
Source: dailymaverick - 🏆 3. / 84 Read more »

JSE looks set to follow under-pressure Asian markets on ThursdayConcern over the US-China trade war and a fall by Tencent in Hong Kong points to a weaker start for the local bourse
Source: BDliveSA - 🏆 12. / 63 Read more »

Google eyes consumer banking business in 2020The tech giant has partnered with Citi to offer current accounts to its customers
Source: BDliveSA - 🏆 12. / 63 Read more »