Retail in Asia

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Burberry targets super rich with bigger stores

UK luxury brand Burberry hopes to insulate itself against global economic headwinds by investing in bigger stores in major cities such as London, Chicago and Hong Kong that are popular both with tourists and the super rich.

Reporting another jump in profit on Wednesday, Burberry said it would invest up to GBP200 million (USD313.7m) in the business over the coming year with about one third of it going towards larger format outlets including a relocated store on London’s Regent Street and a rebuild in Chicago.

Chief Executive Angela Ahrendts said major global cities accounted for the lion’s share of the world’s luxury goods market and that Burberry still had room to grow in them.