Burberry makes new board appointment
Burberry is strengthening its board of directors with the appointment of Sam Fischer, currently president of Diageo in Greater China and Asia Pacific.
Fischer will join the board of the luxury fashion house as a non-executive director and member of the remuneration and nomination committees, with effect from 1 November.
Burberry highlighted Fischer’s expertise in Asia, having held several roles with a strategic focus on Asian markets, such as as managing director of Greater China and managing director of South East Asia at the alcoholic beverages company.
Prior to joining Diageo in 2007, Fischer held a number of commercial and general management roles at Colgate-Palmolive.
Gerry Murphy, chairman of Burberry, said: “Sam's experience and first-hand knowledge of leading iconic heritage premium brands will be a huge asset to Burberry as we grow our business in key Asian markets."
Burberry, which is undergoing a multi-year plan to establish its luxury positioning, is making good progress in Asia. In the first quarter of the year, the company said Asia Pacific sales grew by a high single-digit percentage, driven by mainland China with growth up in the mid-teens.
This compared to a low-single digit percentage increase in the EMEIA region and flat sales growth in the Americas.
Overall, comparable store sales grew by 4% during the first three months of the year, supported by a significant increase in new product. Burberry said the proportion of new product was around 50% of the mainline offer in June, compared to 10-15% in March.
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