AMERICAN FASHION GURU JOINS BURBERRY

BURBERRY has appointed an American retail veteran to its board to revitalise its sales across the pond.

The firm, hit by a downturn in US department stores, is bringing in retail expert Ron Frasch, pictured right with actress L iv Tyler, as a nonexecutive director from September.

The businessman was president and chief merchandising officer of Saks Fifth Avenue between 2004 and 2013 before joining private equity firm Castanea, which invests in branded consumer products and services.

The 67-year-old also spearheaded Castanea’s investment in luxury bag retailer Proenza Schouler in 2015, forcing out chief executive Shirley Cook and was chief executive of US department store Bergdorf Goodman between 2000 and 2004.

Burberry has suffered a downturn in the US and in May revealed profits for the year to the end of March had fallen by 5pc to £394.8m.

It is embarking on an extensive turnaround plan, reduced its ranges and cut back on discount sales.

Frasch’s appointment came amid news Sir John Peace, chairman since 2002, is to leave. He signalled his departure on Wednesday as new chief executive Marco Gobbetti prepares to take the helm.

Gobbetti fills the post next month, from French luxury rival Celine.