Burberry’s new strategy, “Burberry Forward,” revealed by CEO Joshua Schulman on November 14, is a return to the brand’s roots after recent years of testing new directions and losing revenue. Schulman took the helm of the company in July after working for Coach.
Schulman’s approach aims to reconnect the brand to its origins while adapting to a new luxury landscape. The new plan is a bold attempt to correct years of underperformance, with the latest figures showing a 20% year-over-year drop in comparable store sales and an adjusted operating loss of £41 million ($52 million) for the first half of fiscal year 2025.
Overall, Schulman’s message is clear: Burberry wants to reclaim its place as a leader in luxury. But Bryce Quillin, economist and co-founder of luxury strategy agency It’s A Working Title LLC, questions whether the new strategy will succeed where others have failed. “Burberry has been an underperforming brand for nearly a decade,” he said. “The swings in strategy over the years, from chasing trends to elevating price points, have left consumers confused. Schulman’s plan sounds good on paper, but the real challenge is in the execution. The brand needs to align its content, operations and customer touchpoints to truly turn this ship around.”
He added, “It’s not the first time we’ve heard Burberry talk about a return to its roots,” Quillin said. “The challenge will be turning these words into results.”
According to global brand executive Ana Andjelic, Burberry should lean into what it does best, from a product perspective. That includes the trench, the iconic check pattern and water-resistant materials.
And creating scarcity and desire will be key to that comeback, she said, adding, “Customers want to feel that what they’re getting is special and not available everywhere. Burberry needs to leverage this, especially in key markets.”
The Burberry Forward plans to emphasize the brand’s Britishness in both product and marketing. Andjelic said doubling down on classics while introducing some trend-driven pieces could help Burberry find the sweet spot between timelessness and modernity.
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But it’s not just about product; it’s also about execution.
Schulman has already taken steps to optimize the brand’s in-store and e-commerce customer experience, focusing on merchandising and channel planning to ensure all customer touchpoints are aligned. He appointed new leaders across marketing, merchandising, planning and the Americas. In his first 90 days, he initiated a cost-cutting plan targeting £40 million ($50 million) in annual savings, with £25 million ($31 million) expected in 2025. The Guardian reported that Burberry is streamlining office teams, including at headquarters.
Schulman has also emphasized a data-driven approach, using insights on customer personas, average order value and purchase frequency to fine-tune product assortments and pricing. For Burberry, understanding the nuances of its diverse customer base and optimizing channel performance could be the key to recovering lost ground.
Quillin said he’s skeptical about whether this newfound reliance on data will be enough to fix what he sees as deeper issues within the brand’s content operations and overall strategy.
Burberry’s recent launch of the star-studded “It’s Always Burberry Weather” campaign in October and its introduction of Scarf Bars in flagship stores signal a shift toward reclaiming brand authority. But the numbers in the brand’s interim report painted a sobering picture: Its revenue plummeted by 22% to £1.1 billion ($1.42 billion), comparable store sales fell by 20%, and the company posted an adjusted operating loss of £41 million ($53 million) alongside a pre-tax loss of £80 million ($103 million) — stark contrasts to the profits reported in the same period last year.
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Schulman insists that “Burberry’s best days are ahead.” But, ultimately, Schulman’s success will hinge on whether Burberry can truly differentiate itself in a crowded luxury landscape. It needs to prove it still has the cachet to attract a broad base of luxury customers. The holiday season will be a good testing ground for the new strategy and whether it will bring shoppers back to Burberry.
As Quillin said, “They’ve tried several course corrections before. The question is whether this one will finally stick — or if it’s simply too little, too late.”
