Burberry is pushing forward with a high-stakes turnaround under CEO Joshua Schulman, who has sought to reinvigorate the brand’s image by reconnecting it with its British roots. The luxury fashion house, famous for its iconic trench coats, has turned to cultural figures like Oscar-winning actress Olivia Colman and Oasis frontman Liam Gallagher to embody its renewed vision of British heritage. The company is set to face another major test on Monday as it unveils its latest collection at London Fashion Week.
Since taking charge in July last year, Schulman, an American, has redefined Burberry’s approach to marketing and product design. He was outspoken about his predecessor’s strategy, suggesting that prior collections leaned too heavily into a niche, edgy aesthetic that often lacked recognisable Burberry elements. Under his leadership, the creative direction has been steered back toward timeless designs rooted in the brand’s heritage. According to portfolio manager Anna Farmbrough of Ninety One, the recent collections reflect “very classic, very clear heritage designs” that feel more accessible to global luxury shoppers.
Creative director Daniel Lee, who joined Burberry in 2022, has seen his role reshaped under Schulman, with design more closely tied to commercial objectives. Speculation continues about how long Lee will remain in his role, but investors see Schulman’s efforts to normalise the balance between creative vision and business priorities as a stabilising force. As Jeremy Smith of Columbia Threadneedle noted, while a creative director is important, the long-term strength of the brand cannot rely solely on one individual.
Burberry’s marketing push has leveraged social media campaigns featuring celebrities tied to British culture, with Colman evoking her acclaimed portrayal of Queen Elizabeth II in The Crown and campaigns timed to cultural moments like Glastonbury Festival. The brand’s visibility has extended even to global political stages, with former U.S. First Lady Melania Trump stepping off Air Force One in London wearing a Burberry trench coat during a state visit.
This revitalised approach has been welcomed by investors, with Burberry shares climbing 50% since Schulman took the helm. The company has also reduced its workforce by 20% as part of the restructuring. While sales have been in decline for seven consecutive quarters, the most recent figures show only a modest 1% drop, with analysts now forecasting a return to growth. The coming autumn and winter seasons, which account for the bulk of Burberry’s revenue, will provide the true test of whether Schulman’s strategy delivers sustained results. If successful, the turnaround could see Burberry not only reclaim its former strength but also surpass historic sales levels.
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