Burberry CEO Ahrendts leaves for Apple

Tuesday 15 October 2013 08.02
CEO of luxury goods group Burberry leaving for Apple
CEO of luxury goods group Burberry leaving for Apple

Burberry Group said its chief creative officer Christopher Bailey would become chief executive, after the departure of long-standing boss Angela Ahrendts to Apple.

The British fashion house said Ahrendts would step down by the middle of 2014 after which Bailey would be appointed to the role of chief creative and chief executive.

Bailey has been at Burberry since 2001 and has held the major creative role for six years.

Ahrendts will join Apple to take up a newly created position as a senior vice president with oversight of Apple retail and online stores. She will report directly to CEO Tim Cook.

Burberry also said today that its retail revenue rose 17% to £694m sterling in the six months to September - in line with analysts' forecasts.

The outcome compared with £577m the same time last year, and a first quarter rise of 18%.

Retail sales from stores open at least a year grew by 13%, helped by double digit growth in Asia Pacific and the Europe, Middle East, India and Africa (EMEIA) division region and high single digit growth in the Americas.

Total revenue for the six month period was £1.03 billion, up 14%.