{"id":165226,"date":"2021-06-28T07:52:51","date_gmt":"2021-06-28T07:52:51","guid":{"rendered":"https:\/\/www.theindustry.fashion\/burberry-ceo-marco-gobbetti-quits-2-3m-a-year-job-to-return-to-italy\/"},"modified":"2021-09-11T14:24:41","modified_gmt":"2021-09-11T14:24:41","slug":"burberry-ceo-marco-gobbetti-quits-2-3m-a-year-job-to-return-to-italy","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/burberry-ceo-marco-gobbetti-quits-2-3m-a-year-job-to-return-to-italy\/","title":{"rendered":"Burberry CEO Marco Gobbetti quits \u00a32.3m-a-year job to return to Italy"},"content":{"rendered":"<p>Marco Gobbetti has quit as CEO of British luxury fashion house Burberry<strong> after nearly five years in the job to\u00a0return to Italy and join Salvatore Ferragamo.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>Gobbetti, who replaced Christopher Bailey in 2017, has taken the new role at the luxury footwear brand in Italy to be closer to his family.<\/p>\n<p>The <strong>board will now begin the search for a successor,<\/strong> with Gobbetti staying in post until the end of the year to enable an orderly transition, it added.<\/p>\n<p>Chairman Gerry Murphy said Gobbetti \u201chas <strong>had a transformative impact and established a clearly-defined purpose and strategy<\/strong>, an outstanding team and strong brand momentum\u201d.<\/p>\n<p>He added: \u201cThe board and I are naturally disappointed by Marco\u2019s decision, but we <strong>understand and fully respect his desire to return to Italy<\/strong> after nearly 20 years abroad.<\/p>\n<div id=\"attachment_174199\" style=\"width: 1290px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2.50394480.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-174199\" class=\"size-full wp-image-174199\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2.50394480.jpg\" alt=\"Burberry\" width=\"1280\" height=\"825\" \/><\/a><p id=\"caption-attachment-174199\" class=\"wp-caption-text\">Burberry at London Fashion Week, February 2020<\/p><\/div>\n<p>\u201cWith the execution of our strategy on track and our outlook unchanged, we are <strong>determined to build on Burberry\u2019s strong foundations<\/strong> to accelerate growth and deliver further value for our shareholders.\u201d<\/p>\n<p>Gobbetti, who took home \u00a32.25 million last year in pay and bonuses, said: \u201cWith Burberry re-energised and firmly set on a path to strong growth, <strong>I feel that now is the right time for me to step down.<\/strong>\u201d<\/p>\n<p>During his time at the luxury fashion brand, Gobbetti has <strong>attempted to push more full price items and rely less of discounts and sales.<\/strong><\/p>\n<p>He also talked about selling products at higher prices and improving marketing and strategy to appeal to more affluent, young consumers.<\/p>\n<p>Prior to joining Burberry, Gobbetti was <strong>CEO of Moschino and Givenchy<\/strong> before taking charge at French brand Celine.<\/p>\n<p>It was <strong>at Givenchy where Gobbetti worked with Burberry's chief creative officer and fellow Italian Riccardo Tisci,<\/strong> who joined him at Burberry in 2018.<\/p>\n<p>The departure of Gobbetti is <strong>bound to raise questions about Tisci's future at the brand.<\/strong> While his designs have proved a success with younger consumers and Tisci studied in London and has a great affection for the British capital, he too is understood to find it difficult spending so much time away from his home country.<\/p>\n<p>Gobbetti has steered Burberry though the challenges of the Covid-19 pandemic, which led to stores being closed for large parts of the year and European outlets suffering from the lack of international tourists.<\/p>\n<p><strong>In the UK, around two-thirds of sales came from tourists,<\/strong> which have largely been absent throughout the pandemic.<\/p>\n<p>But since lockdown restrictions have eased,<strong> the company saw a 32% boost in sales in its most recent results<\/strong> \u2013 the three months to the end of March, with strong demand in Asia and the US.<\/p>\n<p>The performance helped <strong>limit the fall in full-year revenues to 11% to \u00a32.3 billion,<\/strong> with retail turnover down 9%.<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-144088 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Daily-Newsletter-Banner.png\" alt=\"Newsletter banner\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marco Gobbetti has quit as CEO of British luxury fashion house Burberry after nearly five years in the job to\u00a0return to Italy and join Salvatore Ferragamo.<\/p>\n","protected":false},"author":11,"featured_media":144408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,9763,6,20822,10494],"tags":[968,10023,10586,11537],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Burberry CEO Marco Gobbetti quits \u00a32.3m-a-year job to return to Italy - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Marco Gobbetti has quit as CEO of British luxury fashion house Burberry after nearly five years in the job to\u00a0return to Italy and join Salvatore Ferragamo.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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