👉 Background: Burberry was founded in 1856 as a luxury fashion brand - think trench coats, leather goods and footwear. And it ain't just everyday folk - we've seen Gigi Hadid, Barack Obama and Billie Eillish rock a Burberry outfit (...just to name a few).

👉 What happened: But with the cost of living rising, Burberry has seen a drop of more than 8% in the Americas. But thankfully for the luxury-B, they're seeing Chinese consumers pick up the slack. In fact, its sales in China improved by 46%.

👉 What else: But overall, things are looking pretty good for Burberry. Its total same-store sales actually went up at the fastest rate in two years.

What's the key learning?

💡When it comes to global luxury sales, you always need one of the US or China to be firing on all cylinders - because those two are the giants of the luxury market.  

💡Interestingly though, it's the lower end of the US luxury market that's really battling at the moment. These consumers are feeling the brunt of the cost of living rises. Whereas the higher end of the luxury market is still going strong.

💡Now, Burberry is trying to step into the top end of the luxury market by enhancing the quality and experience of over half of its stores... And it's also dropping new collections to boost the brand.

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