Besides the outside view of the fashion industry and the luxurious extravagances that come along with it, there is actually much work put in behind the scenes. Not shown to the public, there is a lot of heightened tension due to the economy and change of positions within the Burberry designer brand.
Investors in the company weighed in on the news that Christopher Bailey would become the new chief executive of Burberry, where he is already chief creative officer. Many did not approve of this new change, doubting the man and his capability of his work.
The stock price fell 8.8 percent despite the release the same day about robust revenues for the first half of this year. Apparently people are not delighted that a designer will be running a $3 billion luxury company that has roots in the British military.
However, there are just as many supporters who approve of this new changes, stating, “I always said that Christopher was the Ralph Lauren and Giorgio Armani of his generation. . . He has a business sense and a creative sensibility. He has the intellectual capacity to grow and change. He certainly has the stamina and focus — he’s a very focused individual. Being a creative director is a full-time job, but he’s been able to figure out how to delegate. He surrounds himself with great talent. He wants to know, ‘How can I get the best person for this job?’ He’s a motivator. He has a lot of the skills you want in a C.E.O.”
Mr Bailey’s modesty and sensibility are misunderstood for incapability, which are not qualities you typically associate with designers.
This new change has opening some eyes, making more ore fashion students interested about getting M.B.A.’s. In a way, his career — and the faith of the Burberry board — is a challenge to all those assumptions.
