Burberry plans to shift its focus to handbags and shoes in the face of the financial crisis.
The British brand reported lower pre-tax profits this year, mainly due to falling apparel sales. However, there is a silver lining, with profits up for leather goods, casual handbags, and shoes.
"One of the highlights is that handbags represent half of the non-apparel business. We can now say we have two solid backbone businesses - handbags and outerwear," chief executive of Burberry Angela Ahrendts told the Telegraph.
While I'm partial to a Burberry trenchcoat, I don't mind the British label's new direction one bit. Hopefully this will lead to a little more innovation from the Burberry brand, which can only be a good thing. I've seen potential in styles like the Lizzie, but with more focus on handbag design perhaps we can see some accessories that are even more fashion forward.
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