When Angela Ahrendts joined Burberry in 2006, just before the global economic downturn, the companies distinct plaid pattern had developed a down market, and decidedly un-luxury persona. Britain’s rough and tumble working class youths (“chavs”) hijacked the pattern, as did counterfeit vendors peddling Burberry knockoffs on street corners around the globe. While marketers often consider a brand’s logo as sacrosanct, Ahrendts made the bold decision to remove the pattern from 90% of Burberry’s products. That was then… In September Burberry’s CFO released discouraging earnings guidance and its stock lost 21% of its value in a single day – the worst one-day loss since the company went public in 2002. Solution, break out the plaid classics.
Under these circumstances a show titled “I ♥ Classics” would suggest shameless pandering, but in Christopher Bailey’s capable hands it was a deft mix of commercially viable Burberry classics and something new.
Financials via FORBES
