British fashion icon Burberry Group PLC (LSE:BRBY) bids farewell to the FTSE 100 index today, with shares appropriately off more than 4.5% in early trades.
Burberry first entered the blue-chip index in 2009 at a time when the stock was on the ascent and Emma Watson was the face of the company.
But after a period of decline, in which shares have dropped by 70% amid a substantial reduction in global luxury spend, Burberry is set to be replaced by insurer Hiscox Ltd (LSE:HSX) from Monday.
Burberry has copped derating after derating amid a sluggish rebound in global luxury demand (particularly in China), a departing chief executive and a suspended dividend.
The stock is currently at a 15-year low of 596p.