Burberry First Quarter Performance Recovery, Chinese Athletes Must Do Nothing.

Burberry, a luxury British brand, announced its first quarter sales in 2019/2020. As of the 13 week of June 29th this year, the group's retail revenue was 498 million, an increase of 4% from the book exchange rate and an increase of 2% by fixed exchange rate. Among them, the overall sales growth in the Asia Pacific region is slightly lower than 10%, but sales in mainland China are about 15%. The Chinese market is indispensable.

During the period, boboley showed the strongest sales in the UK market. Sales in the EMEIA region (Europe, the Middle East, India and Africa) benefited from the increase in tourism consumption, but the income in the North American market was weak, and there was no increase compared with the same period last year. Overall sales growth in the Asia Pacific region is slightly below 10%, but sales in mainland China have increased by about 15%. Annabel Gleeson, head of investor relations at Bloomberg, also said that the performance of China's Hongkong region has also been stable. Boboli said its first quarter performance was in line with expectations.

Marco Gobbetti, chief executive of Boboli, said in its earnings report that the growth of performance was mainly due to the product of the new creative director Riccardo Tisci and the promotion of the Chinese market.

In May, Boboli launched a series of Monogram series products designed by Riccardo Tisci in various markets including the UK, China and Japan. Chief financial officer and chief operating officer Julie Brown said in a previous conference call: "as of the end of the first quarter, the share of new products in the main store product supply has increased to about 50%.

Julie Brown stressed that the Monogram series was sought after by Chinese Millennial consumers. Meanwhile, Boboli continued to attract the attention of local young consumers through the three party cooperation channels of social media such as WeChat and Tmall, which also had a positive impact on the growth of the first quarter of the brand. According to him, Chinese consumers contributed 40% of global sales in the quarter. Half of the sales came from the Chinese market and the rest came from (Chinese consumers) overseas consumption.

Whether in Chinese market or overseas market, the success of boboley is closely related to its active transformation. At the end of 2017, Bo Bailey announced the five year transformation strategy plan, and began to reform from all aspects of creativity, marketing, digital, distribution and so on after Marco Gobbetti took over.

Last year, the new creative director, Riccardo Tisci, released a new letter print pattern, changing the traditional camel print pattern, intertwined the initials of the brand name Thomas Burberry name (T and B), and launched a new style of exclusive logo series.

At present, the new blotch exclusive logo series mainly consists of T-shirts, women's coats, baseball caps, wallet, tote bags, waist bags, camera bags and so on.

For the design of the new alphabet pattern, Miss Zhang, a white collar from Beijing, told the China Commercial Daily reporter that the new print of Boboli was younger and brighter than the previous camel lattices.

New letter printing products are not only recognized by Chinese consumers, but also popular in overseas markets. According to a Reuters correspondent in New York, a Bloomberg salesperson in New York said that the new letter printing product series was selling well and customers were enthusiastic about it.

With the further development of the bolberry transformation, in order to compete with Gucci (Gucci) and Louis Weedon (Louis Vuitton), Boboli will launch more high profit leather products in the future. Marco Gobbetti said in its earnings report, "we are carrying out various plans of the group smoothly, and our performance outlook for fiscal year 2020 remains unchanged." Mr bobury expects operating profits in the 2020 fiscal year to fall further than half a year ago.