Burberry plans £40 million cost-cutting programme and ‘scarf bar’ rollout but what does it mean?

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Burberry shares new ‘Wrapped in Burberry’ Christmas campaign as it plans to boost profits in 2025.

Luxury British fashion brand Burberry has faced its fair share of ups and downs over the years. The British brand’s profits dropped in the noughties following the rise in chav culture and counterfeit items being sold for a fraction of the price. 

In recent years the brand has been fighting to get back on top and with a new boss and brand new celebrity campaign’s the future for Burberry is looking good. 

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Joshua Schulman was appointed Chief Executive Officer and replaced Jonathan Akeroyd in July 2024. The CEO has big plans to bring Burberry back from the brink according to The Guardian Joshua Schulman unveiled a £40m cost-cutting programme as its new chief executive pledged to “stabilise the business.”

In his first 90 days as CEO, Joshua Schulman explained he has focused on the cost-cutting programme £25m of which will be pushed through during the 2025 financial year. This appears to mean job losses however, the number of jobs being cut is not yet known. 

The brand also shared another profit boosting plan for  the new ‘scarf bars’ rollout. According to the Burberry statement, the ‘scarf bars’ are an “evolved visual merchandising to accentuate outerwear and scarves in stores; initiated global roll out of Scarf Bars in 57th Street flagship in New York.” 

It appears that the scarf bars will give customers the chance to design, customise and personalise their own Burberry scarfs. It was initially launched for a limited period back in 2015. If successful, it may be launched in other stores and online across the world. 

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Burberry have recently launched their new “Wrapped in Burberry” Christmas campaign starring ‘Rivals’ actors David Tennant and Alex Hassell embracing the spirit of the Christmas season in heritage rainwear and Burberry accessories. 

The luxury British brand previously launched their “It’s Always Burberry Weather” Outerwear campaign which featured Olivia Colman, Cara Delevingne, Cole Palmer and Barry Keoghan. 

Natalie Dixon is NationalWorld’s Lifestyle reporter. If you liked this article and want to read more about celebrities, fashion, beauty and lifestyle you can follow Natalie Dixon on X here

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