Headlines

COVID-19: Coronavirus Affecting Burberry Sales

Traffic in mainland China stores down 80 percent

Published

4 years ago

February 7, 2020

VMSD Staff

Luxury retail brand Burberry (London) has closed 24 of its 64 mainland China stores due to the coronavirus, reports The Guardian. Of the stores that have remained open, traffic is off 80 percent so they are operating under reduced hours.

“The outbreak of coronavirus in mainland China is having a material negative effect on luxury demand,” says CEO Marco Gobbetti. “While we cannot currently predict how long this situation will last, we remain confident in our strategy. In the meantime, we are taking mitigating actions and every precaution to help ensure the safety and wellbeing of our employees.”

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