Christopher Bailey is set to leave Burberry after 17 years, paving way for a new chapter in the brand’s creative strategy.
Christopher Bailey, stepped down as Burberry chief executive in July after investor unease, will remain in his post as president and chief creative officer of the brand until March 31, 2018 with an expected payout of up to £12m.
He helped rescue from catwalk oblivion, to become one of Britains most reputable fashion brand.
“Burberry has undergone an incredible transformation since 2001 and Christopher has been instrumental to the company’s success in that period,” said Burberry chief executive Marco Gobbetti in a statement. “We have a clear vision for the next chapter to accelerate the growth and success of the Burberry brand and I am excited about the opportunity ahead for our teams, our partners and our shareholders.”
“It has been the great privilege of my working life to be at Burberry, working alongside and learning from such an extraordinary group of people over the last 17 years,” .
“I am excited to pursue new creative projects but remain fully committed to the future success of this magnificent brand and to ensuring a smooth transition.” – Christopher Bailey.
The process of hiring a replacement for Bailey is already ongoing according to the company, it will be very challenging as the brand has to maintain its heritage and at the same time evolving creatively in the next few years. Some sources suggest that Phoebe Philo — who worked with Gobetti so successfully at Céline — could be a a potential replacement if the chief executive decides to elevate the brand, , as suggested by an open letter to Burberry penned by Ortelli in August. – BOF
We will keep on the lookout of further news of this development, as certainly will generate a lot of interest on the creative world I having the opportunity to work with this iconic brand.
Source: Guardian, BOF, Financial Times