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Highlighting the company’s unique British heritage and capacity for innovation, Schulman expressed his enthusiasm to join the company
Following the resignation of Jonathan Akeroyd and a challenging financial performance, the luxury fashion brand Burberry has appointed Joshua Schulman as its new CEO. Schulman, the former president and CEO of Coach, has around thirty years of experience in luxury market and has led brands like Gucci and Jimmy Choo.
The leadership change comes alongside Burberry issuing a profit warning, indicating an expected operating loss in the first half of the financial year. Reflecting the wider macroeconomic uncertainty affecting consumer spending, retail revenue has decreased by 22% annually. Highlighting the company’s unique British heritage and capacity for innovation, Schulman expressed his interest and enthusiasm to join the company. Underscoring Schulman’s previous achievements and strategy acumen, Burberry chairman Gerry Murphy reaffirmed the new CEO’s alignment with Burberry's creative goals and growth objectives. Reporting directly to Murphy, Schulman will officially accept his role, based in London, effective immediately.
As Burberry navigates challenging market conditions, specifically in regions such as APAC and the Americas where brand revenues are expected to decline significantly, industry analysts are closely watching Schulman's leadership. The appointment underlines Burberry’s resilience and commitment to renewing strategies to drive growth in the highly competitive luxury fashion market.
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