Burberry's 'Forward' initiative under Schulman is gaining traction, focusing on returning to its roots of 'timeless British luxury' and emphasizing outerwear. Despite facing losses in H1, the November update encouraged investors by showcasing a commitment to rebuilding brand strength and culture. Though the company has recently fallen out of the FTSE 100 and is facing takeover speculation, any potential bids would likely depend on the success of the new strategy and the stock's performance. Investors are cautiously optimistic about Burberry's turnaround plans moving into 2024.
Rebuilding the brand in a tough market will be a slog but a very necessary one, given how much BRBY is lagging its luxury peers.
If a bid does come in, it’s likely to be either on the back of evidence that the latest strategy refresh is working or proof that it’s a disaster.
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