Business is booming at the brand?s London stores, as the pound?s Brexit plunge draws shoppers from around the world
Burberry?s New Bond Street store is thriving since the pound?s post-Brexit plunge. Photograph: Harold Cunningham/WireImage
The Brexit vote and the slump in sterling that followed the referendum has delivered a big boost to sales at luxury label Burberry ? powered by overseas shoppers who have flocked to the UK to stock up on branded goods.
The classic British label, famous for its beige check design, said sales in the UK surged by 40% in the final three months of 2016, boosted by strong demand for goods such as its buckle bags, which start at around £500 for a mini leather version and climb to £8,000 for an alligator version. In central London, there was little sign of a mad scramble for these bags or any other Burberry merchandise outside the brand?s Regent Street store. But a surge in luxury spending will never be as obvious as queuers battling for a Black Friday TV. The marbled flagship store of Britain?s biggest luxury brand probably has at least four immaculately black-clad assistants for every shopper ? but they insist they?ve been rushed off their feet.
While Burberry?s formal statement to the City was coy about who exactly was behind the 40% uplift in UK sales, staff at its Regent Street store were far more forthcoming: it was all down to Chinese shoppers, they said.
One reckons that about 70% of shoppers visiting the brand?s flagship outlet are now ...