A model presents a creation for British fashion house Burberry during the catwalk show for their Autumn/Winter 2023 collection on the fourth day of the London Fashion Week, in London, on February 20, 2023. (Photo by Niklas HALLE'N / AFP)
Burberry’s new creative designer Daniel Lee hosted his first fashion show featuring big bright blue jackets in tartan patterns, oversized trench coats and handbags adorned with badger-like tails as the brand seeks to reinvent its "Britishness” once again.
In the first major test for the designer, the fashion world decamped to a purpose-built structure in a South London park, a venue nestled between an old English garden and a cricket ground, on Monday night to get a glimpse of Lee’s vision for a brand which has been lagging its luxury rivals.
The setting of Lee’s show gave a taste of the UK outdoors with each seat provided with a hot water before the lights went down.
"I wanted to hopefully show some positivity about Britain to the world again and remind people that great creativity often comes from here,” Lee told reporters after his debut collection.
At stake for Burberry Group Plc and Chief Executive Officer Jonathan Akeroyd is how to revive excitement around the trench coat maker and continue previous CEO Marco Gobbetti’s plan to "elevate” the brand, making it more prestigious in the eyes of consumers.
Gobbetti left halfway through his revamp plan and former creative director Riccardo Tisci failed to ignite a buzz around Burberry in the way other star designers have at competing brands. Burberry’s revenue growth is behind those of rival brands at LVMH Moet Hennessy Louis Vuitton SE while margins are "flattish,” said Barclays analyst Carole Madjo ahead of the show.
Since taking over in March, Akeroyd replaced Tisci with the Bradford, UK-born Lee, forming a British duo at the top. By picking Lee, 37 - who left Bottega Veneta abruptly in November 2021- Akeroyd named a talented designer known for his instantly recognizable bags and shoes, a crucial segment for high-end labels since they typically carry high margins.
"This is the first step to see if Daniel Lee’s aesthetic can be a success with the fashion press as well as on social media. The second one will be when his creations hit the stores,” in September, Madjo said.
During more than three years at the Kering SA brand, Lee launched the "it” Pouch and Cassette bags, which feature oversize weaving and can come with a thick gold chain. His Lido square-toed mules also became a hit. The success was such that in 2020, Bottega Veneta was the only major Kering brand whose revenue rose when Gucci and Yves Saint Laurent saw a sharp drop in sales amid Covid lockdowns and closed stores.
Shares of Burberry have jumped nearly 60% since Akeroyd became CEO. The stock is trading near a record amid hopes China’s reopening will also boost spending on luxury goods there.
"It’s exciting to try and find what is the narrative for Burberry bags because it’s not a brand that’s really been known for that before” Lee told reporters.
Burberry is going back to "the idea of functionality, day time, on-the-go,” he said, adding "The idea was really of bags that you can chuck on the floor and that will last, that aren’t too precious.”
