Taiwanese partner bought
Burberry today reported a 9 per cent increase in retail sales for the first three months of the financial year. It also revealed it had bought out its distributor in Taiwan.
Total sales were£60.5 million at constant exchange rates, accounting for 53 per cent of Burberry's total revenues. The growth was driven by the US, mainland Europe and southeast Asia, with the UK market described as 'soft'. Wholesale sales increased 5 per cent, while licensing revenues rose 26 per cent.
Burberry bought its Taiwanese partner for£9 million, giving it control of 12 stores and concessions across the country. Chief executive Rose Marie Bravo said she was confident the good performance would continue. 'We are encouraged by the initial consumer response to our autumn/winter merchandise,' she said.
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