Burberry has focused on consistently delivering against its strategies, which have underpinned its growth. During the year, Burberry evolved its core strategies to more accurately reflect the current shape of the business and the scope of its future ambitions.
The five core strategies have evolved as set out below. The new sixth strategy, ‘Build our Culture’ has been added to recognise the importance of Burberry’s culture and values, and how these are critical to its overall success.
|‘Leverage the Franchise’|
becomes ‘Inspire with the Brand’
|To express more clearly the Company’s focus on ensuring Burberry speaks to consumers with one equally inspiring and authentic brand voice, wherever they encounter the brand.|
becomes ‘Realise Product Potential’
|To reflect the more balanced product mix and growth opportunities across all Burberry product categories.|
|‘Accelerate Retail-led Growth’|
becomes ‘Optimise Channels’
|To recognise the successful evolution of the Company’s operating model towards the retail channel and an enhanced focus on optimising all routes to market whether directly operated or third party, both online and offline.|
|‘Invest in Underpenetrated Markets’|
becomes ‘Unlock Market Opportunity’
|To encompass opportunities to evolve and elevate the Company’s footprint in both developed and younger markets.|
|‘Pursue Operational Excellence’||To expand the historical focus on operations to encompass efforts to drive enhanced efficiency and productivity across all business areas.|
|‘Build our Culture’||A new strategy to reflect Burberry’s continued commitment to building its unique culture, ensuring its values are reflected in everything it does.|
As the Company’s strategies have evolved as set out above, the key performance indicators used to measure its performance have also been reviewed and refined. Please see the revised key performance indicators below.