If your label is hot, sooner or later, someone is going to fake it.
But Burberry has been more stringent than most in protecting its famous house check. Last year, it threatened to sue British designer Russell Sage after he featured some recycled Burberry fabric in his London show. It also threatened to sue American designer Miguel Adrover, who used an old Burberry mac in his New York show. While other labels might have shrugged this off as a tribute after all, it could be argued that hip designers getting into fusty old Burberry is no bad thing Burberry didn t see the funny side. Its house check is its fortune. Kate Moss and Prince William wear it. Its exclusivity must be preserved at any cost.
It seems that Burberry s stringency has paid off. Its owner, the retail group Great Universal Stores, has announced plans to float the company within the next 12 months.
The float should value Burberry at around £1.5 billion. Even to fashion insiders aware of the label s extreme reversal in fortunes, this seems an extraordinary amount of money.
Earlier this week, Burberry reported trebled profits of £69.5 million on near-doubled sales of £425 million. That s an awful lot of dreary Burberry trench coats.
HOW did it happen? Let us count the ways.
Number one: Rose Marie Bravo, the company s chief executive, hasn t put a foot wrong since her appointment in 1997, swiftly realising the label s potential as a luxury brand and developing it with skill. Number two: former design director Roberto Menichetti helped put Burberry back on the fashion map with his high-fashion Prorsum range. Number three: a series of slick ad campaigns featuring Stella Tennant and Kate Moss capitalised on Burberry s quirky British heritage. Heritage is big with the fashion crew: they like a bit of history, and Burberry has it in spades. Number four: the Burberry check itself, which, instead of being limited to raincoats, was quickly extended to court shoes,Christian Shoes, bags, bikinis, bandanas and skirts just in time to cash in on fashion s obsession with logos. If the Louis Vuitton monogram could be feted by the rich and famous, then so could the Burberry check.
And how it was. This time last year, the papers were awash with famous Burberry-wearers. Liam Gallagher toted the bag, Meg Mathews wore the raincoat and Posh Spice sported the bandana. Over in Hollywood, Sharon Stone slipped on the high-heeled court shoes, and a global brand was born. Burberry had always been big in Japan and Asia, but now it had that all-important wow factor: the sort of celebrity endorsement that money alone cannot buy.
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Posted on February 8, 2010 at 2:40 pm
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