Burberry boardroom makeover continues as luxury fashion brand hires Daniel Lee as creative director
Burberry has hired Daniel Lee to be creative director as the British fashion house’s executive shake-up continues.
The 36-year-old Bradford native, who won plaudits at Italian fashion house Bottega Veneta, will replace creative director Riccardo Tisci.
Lee praised Burberry as a “legendary luxury brand” and London as “a city that champions pioneering creativity.”
Good match: Daniel Lee (pictured with Rosie Huntington-Whiteley) joins Burberry as Creative Director
His return to British fashion will take him back to Yorkshire, as Burberry’s iconic Heritage trench coat is handmade in Castleford, just 25 miles from Bradford.
Tisci’s predecessor, Christopher Bailey, is also from Yorkshire, hailing from nearby Halifax.
Tisci, who held the post for nearly five years, was appointed by former Burberry boss and fellow Italian Marco Gobbetti, who left last year.
Questions about Tisci’s future have been swirling since Gobbetti’s departure amid rumors that new boss Jonathan Akeroyd, who previously ran British brand Alexander McQueen as well as Italian group Versace, is planning a change in management. .
Tisci’s swan song at Burberry came on Monday when the 166-year-old firm’s spring/summer 2023 collection was unveiled at London Fashion Week, with models including Naomi Campbell wearing her latest outfits.
Rogerio Fujimori, an analyst at brokerage Stifel, said Lee’s appointment should be seen as a “long-term positive” but acknowledged that a change in creative director “creates a certain level of disruption for luxury brands.”
He said: ‘[Tisci’s] The collections were not able to create the strong buzz seen in the most popular luxury brands in the last five years. It’s understandable that Burberry would bring in someone new for a new chapter.”
Born to a mechanic father and an office worker mother, Lee graduated from Central Saint Martins College in London before working for designers like DKNY and Parisian brand Celine.
In 2018, he was named creative director of Bottega Veneta and is credited with turning it into a fashion brand by reimagining its classic woven leather accessories into unusual bags and footwear. Famous fans included pop star Rihanna.
Reshuffling: Tisci’s swan song at Burberry came on Monday when the firm’s spring/summer 2023 collection was unveiled at London Fashion Week.
But Lee shocked the industry when he abruptly left in November, although the company said it was a “joint decision” to end the partnership.
His arrival at Burberry comes amid a broader reorganization. In addition to bringing Akeroyd in in April, chief operating and finance officer Julie Brown is joining pharmaceutical giant GlaxoSmithKline and leaving in April.
The reorganization comes as Burberry tries to revive a business hit this year by closures in its main Chinese market that forced its stores to remain closed for weeks. In a quarterly update in July, it said sales were up just 1 percent year-on-year.
Akeroyd, 54, has said he wants to heavily promote the group’s British roots and heritage, to boost its luxury reputation and boost sales.
His predecessor, Gobbetti, along with Tisci, worked to elevate Burberry’s status while simultaneously shifting focus to appeal to younger audiences through striking partnerships with the likes of footballer Marcus Rashford.
The new CEO also hopes to rejuvenate Burberry’s anemic share price, which despite several swings is back to where it was five years ago. Yesterday, the shares rose 5.5 percent, or 92 pence, to 1,776.5 pence.
But the cost of living and recession fears are weighing on consumers’ ability to spend on luxury.
“Burberry may face a challenging time ahead with a slowdown in global growth that could hit consumer demand in its key markets, including China,” said Victoria Scholar of Interactive Investor.