Burberry, a British luxury brand, reported a 34% decrease in annual operating profit due to a sharp decline in sales in China. Despite this setback, the company remains confident in its strategy and is making progress in refocusing its brand. The luxury sector as a whole is struggling, with competitors like Hermes and Prada also reporting declines in sales. Burberry’s creative director, Daniel Lee, is key to the brand’s repositioning and recently showcased a collection at London Fashion Week.
