Breaking: Christopher Bailey Steps Down As Burberry CEO

He will be replaced by Marco Gobbetti

In today’s breaking fashion news (there’s never a dull moment, is there?), Christopher Bailey is set to step down from his role at CEO at Burberry, according to Business of Fashion. 

Bailey will reportedly remain as the chief creative officer overseeing all design, and will also add brand president to his title. He will be replaced as CEO in 2017 by Marco Gobbetti, the current head of Céline, who will focus on business strategy. 

BoF reports that the British company experienced a significant drop in profits over the past year, due in part to the reduction in sales in China and Paris, which is likely why the brand is shaking up its management team. Watch this space. – Maddison Glendinning