Burberry’s new CEO Christopher Bailey has confirmed that one the businesses primary objectives during his watch will be to deepen its sales in the Japanese market. The brand currently has four stores and ten concessions in Japan plus a small wholesale business. It intends to increase the number of stores and department store concessions as well as part company with local market distributors when their licences come up for renewal and to grow annual sales in the country to £100 million (from £25 million).
The business generated global sales of £2.3 billion for the year to 31st March 2014 with pre-tax profits reaching a record £444.4 million. Whilst no detail was provided with regard to the percentage contribution from online sales, it is believed to growing significantly.
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