Burberry is transforming into a luxury luxury position
According to the British fashion media Fashion Network recently reported that British luxury brand Burberry revealed that it has completed the transformation of 14 flagship stores, and plans to implement a new plan to improve the function of the store in more than 50 other major stores, in the promotion of digital tools At the same time of sales, we will carry out a commodity-led collaborative retail training program to provide better luxury service empowerment for brand teams.
It is understood that the current transformation of 14 flagship stores, Burberry mainly in the architectural aesthetics and visual presentation of the new design, the store exterior wall has launched the brand new TB logo, these stores include the brand in London Regent Street, Bond The flagship store on the street, as well as 57 Street in New York and Cheongdam-dong in Seoul, South Korea. Burberry said the move is part of the group's reshaping strategy to more clearly convey Burberry's transformation into the positioning of top luxury goods.
Shanghai Kerry Center Store is also in the store upgrade plan. The store was re-opened in March this year. According to Burberry WeChat public information, the visual remodeling of the Kerry Center store was inspired by the creative design of the London Regent Street flagship store, designed by Riccardo Tisci, in shades, textures, The material inherits the brand's consistent British aesthetic design philosophy. The overall style is more neutral, elegant and modern, and offers three-layer space display products.
In addition to upgrading some of the stores, Burberry is also frequently closing stores and opening new stores. In the fiscal year 2019 of March 31, 2019, Burberry closed 35 stores worldwide and opened 17 new ones. During the period, Burberry closed four stores in Shanghai Shangjia Center flagship store, K11 boutique, Meilong Town Square children's clothing store and Shanghai Hongqiao International Airport T2 terminal boutique. In June of this year, the Shanghai IAPM shopping mall boutique and the IFC shopping mall boutique of Shanghai Guojin Center were added. In terms of decoration style, the newly established stores are consistent with the upgraded stores.
In fact, Burberry is undergoing brand transformation and positioning adjustment, and store closures and updates are an important part of the transformation. In May 2018, Burberry Group CEO Marco Gobbetti said that in order to clarify the brand positioning, the group will significantly reduce the number of stores affecting the brand wholesale business, some underperforming shopping malls, "shop-in-shops" and away from the high-end luxury consumer community The stores will be closed.
Since 2016, Burberry's development has begun to go downhill, and gradually fell behind in the first echelon of luxury goods. Analysts believe that Burberry must achieve sustained sales growth to return to the starting line. To this end, Burberry began to adjust its strategy, by releasing the new TB logo and the new brand classic totem MONOGRAM, changing the four times a year to a new monthly, through various social media and applications for limited time exclusive sale, etc. The brand is built to be younger. The store's “slimming and reorganization” is also part of it. Burberry also plans to close about 10% of its stores by 38, in order to achieve the goal of saving 120 million pounds by 2020.
Burberry's reform results are currently not showing up in performance. The Group's sales in FY 2019 were 2.72 billion pounds, with almost no growth. In response, Marco Gobbetti said his management team is trying to reposition the brand and find the right place in the luxury retail market to gain new growth momentum.
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