Luxury Industry: Salary Standards Need Comprehensive Reform

At the beginning of this year, Christoper Bailey, chief executive officer and creative director of luxury brand Burberry, resigned from his chief executive's post. After the company's announcement of its sales performance was unsatisfactory, it also implemented a 75% pay cut for him.

According to industry sources, Christoper Bailey stepped down early because investors lost patience with the CEO of creative director.

Sales growth of some products in the industry has slowed to single digits, such as leather goods. In addition, serious watches such as expensive watches have fallen.

France

Points out that most companies

A comprehensive reform is needed to set standards, which will be more conducive to coordinating chief executive's salary and shareholders' interests.

Paris Bank of France believes that luxury brands should pay more attention to areas where investors are interested in choosing luxury brand investments, such as investment capital return (ROIC), cash flow and total shareholder returns, rather than focusing on simple sales growth.

The bank said that at present

Luxury companies should make more efforts in this area to attract investors under the condition of bad environment.

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Christopher Bailey supports technology and concept innovation in addition to supporting technology inheritance and innovation.

At Christopher's creative lab at Burberry headquarters, Christopher Bailey cheered and said, "it's like the movie Charlie and the chocolate factory."

He conceived the atrium design of the pre war building. The roof design is a pparent corrugated glass, which can exaggerate the voice of rain to remind you of the brand foundation of the British Empire's raincoat supplier.

He said that Burberry has the latest elements, such as 3D printing, new embroidery technology, packaging designer, and a complete programmer team. Almost everyone in the company will take part in photography, music and architecture, because they are arranging their own companies.

The company also has its own photography studio and movie studio, Burberry basically a small school of design.

In addition to supporting the inheritance and innovation of technology, Christopher Bailey also strongly supports innovation in technology and concepts. For example, in 2009, Burberry became the first luxury brand for live broadcast.

He expressed surprise that luxury brands resisted modern technology.

In his view, a forward-looking industry will not reject new technologies that can change people's lives.

As far as his life experience is concerned, because he was very obsessed with music, he used to take a lot of CD with him every time he went out so that people could make fun of him. But with the development of technology now, he could only travel easily with his iPhone phone.

Christopher Bailey said: "we will review the changes we are making now, just like the great industrial revolution.

Technology has made such a big change in our lives, and it will also change the fashion industry. "