Burberry UK sales rise by 30 per cent since Brexit vote as tourists exploit weak pound

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By Kelly Woodward

UK SALES of designer brand Burberry have risen by 30 per cent as fashion-conscious tourists take advantage of the weak pound.

Burberry released its first half figures on Tuesday morning stating that its total international revenue is £1,159 million – down by four per cent – for the six months up to September 30.

But the company stated that the UK significantly outperformed in the second quarter with “comparable sales up over 30 per cent, given sterling’s depreciation”.

Burberry has also been one of the best performing stocks since Britain voted to leave the European Union on June 23 – with its shares up 35 per cent because of the weaker pound.

The global luxury brand has a distinctive British heritage, built around its core iconic outdoor clothing, which is primarily made at Burberry’s two Yorkshire factories in Castleford and Keighley.

In July, Burberry put plans for a new Leeds factory, set to open in 2018, on pause as it considered the impact of the Brexit vote.

Harvey Nichols was the only store to stock Burberry in Leeds city centre but no longer stocks the brand.

A Burberry spokesperson said: “There is no change to our commitment to renewing our manufacturing base in Yorkshire.

“We’re currently having another look at our plans to build a new manufacturing and weaving facility in Leeds, which we announced a year ago.

“It’s such an important project we want to get all the details right.”

Sophie Holden, a Burberry enthusiast from Clarence Dock in Leeds said: “I now have to go to Manchester if I want to buy Burberry.

“Hopefully, with the plans of the factory in Leeds, Burberry will come back to Leeds. It’s definitely the perfect time to.”

Shoppers in Leeds celebrated the opening of the new £165 million Victoria Gate centre on Thursday. Many high-end designer shops have flocked to Leeds from London such as Anthropologie and Aspinal of London.

Burberry said it wants to extend the success of the UK sales to the rest of the world.

Yorkshireman Christopher Bailey, chief creative and chief executive officer, said: “The progress we are making to improve our ways of working, the agility of our teams to react to changes in consumer behaviour and the strength of our brand give us confidence for the future.

“We remain on track to deliver our financial goals.”

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