Burberry for Brexit

Luxury brand’s Remainer boss has change of heart

THE chief creative officer of Burberry has said the potential for post-brexit Britain is “enormous” as he insisted the fashion house was “absolutely committed” to keeping its manufacturing in the UK.

Christopher Bailey said there was great potential for the company to grow with Britain outside of the European Union, adding that “Britishness resonates globally”. Burberry has taken advantage of the weakness of the pound since the vote to leave the EU, as tourists have flocked to buy its products more cheaply in the UK.

In July it beat analyst expectations by posting a 3pc rise in retail revenues for the three months to the end of June, while like-for-like sales in its shops rose by 4pc.

Speaking to the BBC, Mr Bailey said London was “an energy hub for the creative industries”, adding that Britain was a “creatively nourishing country that people want to feed off ”.

He continued: “The possibilities and the potential for growth, both locally here in the UK and overseas, are enormous.”

Mr Bailey backed Remain in the EU referendum and was one of a number of business heavyweights to sign a letter calling for Britons to vote to stay in the EU. He said that maintaining strong relationships with other cultures and countries remained vital to the business.

“Being able to share ideas, to collaborate with people from other cultures and countries, is fundamental to any creative business,” he added.

Due to Brexit uncertainty, Burberry has held back on plans to renovate the Temple Works building in Leeds as part of £50m plans for a new manufacturing factory in the area.