Our vision is to realise Burberry’s potential as the Modern British Luxury brand. We have a clear strategy to achieve this across brand, product and distribution, supported by operational excellence, people and talent, and values and sustainability.
Our ambition is to grow annual revenue to £4 billion. Underpinning this, we have set targets to double our leather goods sales, more than double shoe sales, double women’s ready-to-wear and grow outerwear by 1.5 times. We also aim to improve store productivity to £25,000 per square metre per annum, and double e-commerce sales, to reach ~15% retail penetration.
Britishness is at the heart of our brand and product. We believe our British heritage is a position of strength and we are building on this. We are refining our storytelling so it incorporates more of the timeless, classic attributes that Burberry is known for. We are also building desirability around our key product categories, using locally relevant campaigns and activations to strengthen customer recruitment and engagement.
Burberry is known for creating beautiful luxury products that last. We have started to evolve our collections in line with our new creative vision, and have also begun to reinvigorate our larger, core offer. We are investing significantly in the quality of our products and the materials that we use, particularly in leather goods. and are expanding our offer across categories so that we can provide our clients with a full range of wardrobe staples.
We are enhancing customer experiences both in-store and online. We have a well-established network of Burberry stores in high-visibility locations, which we are continuing to strengthen. The majority of our stores, including most of our flagships, are now new or refurbished. We have begun to elevate the online shopping experience at Burberry.com, which reflects the new Burberry brand aesthetic and has a greater focus on product. We are also investing in enhancing our omnichannel capabilities and personalising the shopping experience for our customers.
Operational excellence is key to delivering our strategy. We have reconfigured our supply chain to deliver our new elevated offer and strengthened internal manufacturing capabilities. At the same time, we are delivering on our bold sustainability commitments and positively impacting our communities. Our people are fundamental to this, and we are passionate about ensuring that they are supported and inspired to deliver great outcomes for our customers, communities and stakeholders.
