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November 17, 2005
GUS To Buck Burberry
GUS PLC, majority stakeholder in Burberry Group, plans to spin-off the British fashion house next month. After reporting a 5.7% dip in half-yearly profit, GUS is looking to breakup some of its businesses in an effort to stabilize its share price.
The group owns a 65% stake in Burberry and plans to unload the business through a stock consolidation.
Burberry has been hit with one change after another in the last few months, including management changes at the top and a publicity nightmare for the supermodel face of its brand.
While rough waves appear on the horizon, industry watchers are still predicting smooth sailing for the fashion house given the enduring popularity of its classic apparel.
Posted by Blacks on November 17, 2005 11:50 AM
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