economy
Burberry's £2,000 Cotswolds handbag hits 'a sweet spot' with Americans
Zeal for ‘the Hamptons of England’ has rubbed off on sales, with luxury British fashion brand back to a full-year profit
TL;DR
- Burberry's new £2,000 Cotswolds handbag is boosting sales, especially in North America.
- The Cotswolds region is becoming popular with wealthy Americans, dubbed the 'Hamptons of England'.
- Burberry reported a return to full-year profits of £49m, driven by US and China sales.
- The company cut £80m in annual costs and is focusing on core categories like scarves and outerwear, alongside improving bag sales.
- Global sales were affected by the Middle East conflict, but the company is confident in meeting profit expectations.