Burberry May Increase U.S. Presence

  • September 4, 2009
Burberry Group Plc, Britain's largest luxury-goods company, may accelerate plans to open U.S. stores, the company's Chief Financial Officer Stacey Cartwright told Bloomberg News.

Cartwright cited a new outlet in Indianapolis's Keystone fashion mall, which also houses Saks Inc. and Tiffany & Co. outlets and signed Burberry to fill a space formerly occupied by bankrupt gadget seller Sharper Image Corp. The U.S. is an "under-penetrated" market for Burberry, Cartwright said. The brand's sales in the Americas are growing faster than any other region.

Burberry may open more than the five stores previously forecast for the Americas this year, according to Cartwright. The Americas account for about 27% of Burberry's sales, compared with about 37% for Europe. --Tanya Irwin



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