Burberry welcomes new CEO

Mr Gobbetti​ will ​take on the role of executive chairman​ for ​​Asia Pacific and Middle East​ ​until July 5, after which he will become ​group ​chief executive and will join the board.​

Burberry said Mr Gobbetti has a proven track record for growing brands such as Givenchy, Moschino and Bottega Veneta.​

Halifax-born Christopher Bailey will continue as chief creative officer and CEO until July 4. Then he will take up the new role of president and chief creative officer on July 5 and will remain on the board. Burberry said that Mr Bailey will continue to report to the chairman.

In November Burberry reaffirmed its commitment to create a new state-of-the-art factory in Yorkshire despite a 24 per cent slump in its half-year profits.

The company reported underlying pre-tax profit of £146m in the six months to September 30, down from £151.7m the previous year.

The firm announced last year that it was to create a multi- million-pound manufacturing and weaving facility in Leeds’s South Bank to produce its popular trench coat range, relocating its existing staff in Castleford and Keighley in the process.

Burberry is spending over £50m on the new facility, situated on the South Bank of Leeds, which will employ more than 1,000 people when it is completed.

The group is expected to say it ​has seen a boost ​from​ the collaps​e​ of the pound when it updates the market on trading ​on Wednesday.

​A​nalysts at Barclays are forecasting a 25 per​ ​cent rise in third quarter sales to ​£​752​m and a 2 per cent rise in like-for-like sales.

Barclays highlighted the social media success of a tie-up with pop star Kris Wu as auguring well for progress in China.