Burberry sells its products to the end consumer through both retail (including digital) and wholesale channels. For 2012/13, retail accounted for 71% of revenue and wholesale 24%. Burberry also has licensing agreements in Japan and globally, leveraging the local and technical expertise of its licence partners.

Revenue by channel

2012/13 Revenue by channel pie chart
Underlying is calculated at constant exchange rates


Includes 206 mainline stores, 214 concessions within department stores, digital commerce and 49 outlets

  • 12% underlying growth
  • 5% comparable store growth
  • 7% growth from new space
  • 23 mainline store openings, focused in flagship markets including Chicago, Hong Kong, Milan and London

Includes sales to department stores, multi-brand specialty accounts, Travel Retail and franchisees who operate 65 Burberry stores, mainly
in emerging markets

  • 1% underlying growth
  • Growth in North American department stores, Asia Travel Retail and emerging markets
  • Net eight new franchise stores opened

Includes income from Burberry’s licensees, just over 60% from Japan with the balance from global product licensees (fragrance, eyewear and timepieces) and the European wholesale childrens licensee

  • 1% underlying decline
  • Royalty income from Japan down reflecting continued rationalisation of short-term accessories licences in Japan
  • Double-digit underlying growth in royalty income from global product licences
  • Burberry began directly operating fragrance and beauty from 1 April 2013

Broad geographic portfolio

Burberry operates in four regions. For 2012/13, Asia Pacific represented 39% of retail/wholesale revenue, Europe 30%, Americas 25% and Rest of World 6%.

Retail/wholesale revenue by destination

World map showing distribution of retail/wholesale revenue by destination
Underlying is calculated at constant exchange rates

  • 6% underlying growth
  • Retail accounted for approximately two-thirds of revenue
  • Low single-digit comparable store sales growth, weighted towards the second half
  • Approaching 10% of Americas retail revenue came from outside the United States
  • North American department store wholesale customers outperformed, with further expansion of dedicated shop-in-shops
  • 6% underlying growth
  • Retail accounted for nearly 70% of revenue
  • Comparable store sales growth broadly unchanged year-on-year, France and Germany robust, Italy remained weak
  • The United Kingdom accounted for over 40% of Europe retail revenue
  • Largest wholesale region, about 40% of group wholesale revenue. Revenue impacted by weak demand, especially in Italy, and continuing planned rationalisation of accounts
Rest of World
  • 11% underlying growth
  • Retail accounted for nearly 60% of revenue
  • High single-digit comparable store sales growth, led by India
  • Good growth in wholesale revenue, mainly to franchise partners who operate 65 stores globally
Asia Pacific
  • 13% underlying growth
  • Retail accounted for nearly 90% of revenue
  • Double-digit comparable store sales growth in China and Hong Kong, Korea remained weak
  • Good growth in Travel Retail, which makes up the majority of wholesale in the region

Diversified product mix

Burberry has a structured product offering and has seen growth across each of these business areas. For 2012/13, accessories represented 39% of retail/wholesale revenue, womens 33%, mens 24% and childrens 4%.

Retail/wholesale revenue by product division

Product mix pie chart
Underlying is calculated at constant exchange rates

  • Large leather goods, nearly half of mainline accessories revenue
  • Continued innovation in core leather programmes and key fashion shapes
  • Men’s accessories increased by over 30% in mainline retail, to reach nearly 20% of total accessories revenue
  • Core outerwear was the largest growth category, over half of mainline revenue
  • Prorsum and London outperformed, S/S13 Brit resurgent
  • Significant growth in tailoring, up over 50% year-on-year
  • Prorsum and London outperformed
  • First standalone mens store opened in Knightsbridge, London
  • Strong growth in outerwear, supported by S/S13 advertising campaign
  • Replenishment up to nearly 30% of mainline revenue

Product Mix triangle