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China drives Burberry boost

British luxury brand Burberry has reported a nine per cent rise in revenue for the six months to March, boosted by demand in China.

Retail revenue rose 13 per cent to £840 million (US$1.2 billion) with double-digit comparable store sales growth seen in Asia Pacific, particularly in China and Hong Kong.

Meanwhile, wholesale revenue decreased three per cent as it saw weakness in demand in Europe, its largest wholesale region.

“Looking forward, while we expect the external global environment to remain challenging, the team is intensely focused on optimising the significant opportunities that exist for the brand across geographies and product divisions, with particular emphasis on unlocking the potential of our digital platform and our newly-integrated fragrance and beauty business,” said CEO Angela Ahrendts.

The coming months will see Burberry opening about 25 mainline stores and closing about 15, along with 10 new concessions and 10 closing. Openings are biased towards the evolution of the portfolio in China and further expansion in Latin America, it says.

The London-headquartered brand has 206 retail stores, 214 concessions, 49 outlets and 65 franchise stores worldwide.

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