Burberry Life Is Bad, Market Value Evaporates 20%

China is not buying it, and luxury goods giant Burberry continues to slump this year.

Data show that in 2016, the annual profits of Burberry continued to decline, the group also announced that profits in 2017 will be at the lowest level expected.

The British luxury brand is a double breasted windbreaker.

Known in the world, in recent years, it has spared no effort to pform itself into a global market and strive to pform itself into a younger and more modern trend.

However, even in 2016, Beckham's eldest son was taken as an advertising photographer to invite Wu Yifan to show up on the T platform.

John Peace, chairman of Bobby Lee, said that the luxury environment is so bad that Bobby is in a bad position.

In July 2016, Boboli announced that it would replace CEO Christopher (Christopher Bailey), who was also the chief creative officer, and was replaced by CEO Marco Gore Betty (Marco Gobbetti) of Si Lin C.

Bailey's performance during his tenure is really not satisfactory.

Since he took office in 2014, he has led the company's stock down by 22% in just two years, equivalent to nearly 1/5 of its market value.

As early as last year's poor performance, the CEO announced a series of cost cutting measures, including the reduction of 30 million pounds, stock incentives and 20 million pounds of travel and car benefits, and he himself was cut 75% in June this year.

In November 2015,

The group issued a business decision plan, decided to unify product lines and build new windbreaker factories.

All product categories will be integrated into a single "Burberry" brand and will be available from the summer of 2016.

However, cost reduction and product adjustment did not lead to an increase in profits.

In the first quarter ended June 30, 2016, Bloomberg's same store sales fell 3% in the first quarter, according to the financial report.

Due to the sharp decline in sales, the luxury brand has to warn of future performance: it is expected to end in the first half of September 30th.

10% less than last year.

Boboli said Bailey will be the new CEO and retain his chief creative officer.

Gobeti, chief executive of French luxury goods company Si Lin, will be chief executive of bobury next year.

As part of the high-level personnel adjustment, Mr bolberry announced that Carol Fairweather, the chief financial officer, will also leave the company to pursue new opportunities.

"We hope that a more suitable person will lead Bobo Li Du to overcome the difficulties."

In fact, in the past 6 months, boblie has been looking for new CEO candidates.

According to British local media, investors welcomed the change in personnel, saying that the appointment of Bailey as chief executive and chief creative officer has failed.

After the announcement, bobailey's share price rose 4% to 12.11 pounds per share.

"The company's financial performance is weak and obviously needs to be changed," said one of the top 20 investors.

It is clear that investors have lost confidence in whether Bailey has the ability to promote the British brand globally.

"Christopher Bailey (Christopher Bailey) took over two years ago is not a good time. Luxury cold winter began at the end of 2012," Tang Xiaotang, founder of No Agency, said in an interview. "It is well known that over the past two years, China's anti-corruption has begun to affect the market, but the current economic and stock market problems are even more grim. The luxury market can be said to enter the deep winter."