In the five days since Lee’s appointment was revealed on Sept. 28, Burberry’s share price has risen by nearly 10 percent.
for reasons that remain unclear, had been widely tipped for the Burberry job.
Cereda added there is “scope for an overhaul of the leather goods business with a more exciting and higher price point offer, replicating Lee’s success with Bottega’s heritage product.”such as Gucci, Dior and Louis Vuitton in terms of leather accessories sales, and pricing. Although accessories is a fast-growing business at Burberry, it’s a relatively small one and prices remain lower than the brand’s peers on the European continent.
Last week, Bernstein’s Luca Solca described handbags and shoes as “the two potentially most promising developments for Burberry. So far, the British brand has struggled to make its mark in these categories and create high-profile iconic products. Daniel could open this opportunity.” Lee, who reports to Burberry’s chief executive officer Jonathan Akeroyd, won’t show his first collection until February 2023 atOther factors, too, could bolster Burberry shares despite the current market volatility in Europe and the U.S.
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