Burberry has announced that Christopher Bailey will resign as creative director of the brand by the end of next year after 17 years.
According to an article on Reuters, Burberry has announced that’s Christopher Bailey will resign as creative director of the brand by the end of next year. Bailey has been with the brand for 17 years.
Bailey will remain President and creative director of the brand until March 2018 which will give him enough time to complete the March 2018 collection. Then, Bailey will resign a second creative director as well as from the board of directors but will remain with the company with CEO Marco Gobbetti to “provide support” with his resignation until December 31, 2018.
Burberry said Bailey decided to pursue new projects after having turned the company into a global brand worth more than £8 billion ($10.5 billion).
Bailey released a statement saying,
“it has been the great privilege of my working life to be at Burberry, working alongside and learning from such an extraordinary group of people over the last 17 years. Burberry encapsulates so much of what is great about Britain. As an organisation, it is creative, innovative and outward looking. It celebrates diversity and challenges received wisdoms. It is over 160 years old, but it has a young spirit. It is part of the establishment, but it is always changing, and always learning. It has been a truly inspiring place to work and the decision to leave was not an easy one. I do truly believe, however, that Burberry’s best days are still ahead of her and that the company will go from strength to strength with the strategy we have developed and the exceptional talent we have in place led by Marco. I would like to thank all my colleagues as well as Sir John Peace and the Board for all their support and faith in me over the years. I am excited to pursue new creative projects but remain fully committed to the future success of this magnificent brand and to ensuring a smooth transition.”
Bailey has been with the brand for 17 years and resigns just a few months after Gobbetti became CEO of the brand earlier this year in July after having resigned as CEO of Céline.
Burberry has not yet announced who will replace Bailey but rumors are circulation the Phoebe Philo may replace him just after rumors that Philo would resign as creative director of Céline by the end of year.
The brand also says Bailey will receive a cash allowance and that he will also recieve a bonus for the year until March 31, 2018 which will be paid in July 2018 but will not recieve a bonus for anything afterwards.
So, what do you think? Who will replace Christopher Bailey at Burberry? Let me know in the comments below. Also, don’t forget to subscribe to get new posts sent directly to your inbox and follow me on Facebook, Instagram, and Snapchat.
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