Coronavirus Also Affects Burberry Fashion House

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The outbreak of the new coronavirus is evident in the world of luxury clothing and accessories. The British fashion house Burberry notices that the demand of the usually so eager to buy Chinese has dropped considerably.

 

That is why the concern, known for its clothing and bags in an iconic checkered pattern, has thrown its financial forecasts overboard.

In January Burberry presented optimistic sales expectations for the current financial year ending in March, partly due to strong demand for the new collection by designer Riccardo Tisci. But in the meantime, it has become clear that a few percent cannot meet the expected growth in turnover.

Burberry has temporarily shut down 24 of its 64 sites in China due to the coronavirus.

The stores that are open work with shorter opening hours and receive considerably fewer visitors. Sales here fell by 70 to 80 percent.

The group did not yet see the expenditure of Chinese tourists in Europe and other destinations decreasing very sharply. But given the increasing number of travel restrictions, Burberry expects that the picture will deteriorate in the coming period.

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