Burberry Group PLC (LON:BRBY) got a boost on Thursday from news the global luxury brand has appointed Riccardo Tisci as its chief creative officer, with effect from March 12.
The FTSE 100-listed group said Tisci will replace Christopher Bailey, who has been Burberry’s chief creative officer and president since July 2017 but who announced he will leave both roles at the end of March this year.
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Tisci, a critically acclaimed designer with expertise across womenswear, menswear, leather goods and accessories, was most recently at French fashion and perfume house Givenchy, where he was creative director for 12 years from 2005 to 2017.
Burberry’s CEO, Marco Gobbetti commented: ”Riccardo is one of the most talented designers of our time. His designs have an elegance that is contemporary and his skill in blending streetwear with high fashion is highly relevant to today's luxury consumer. Riccardo's creative vision will reinforce the ambitions we have for Burberry and position the brand firmly in luxury."
Bailey spent 17 years at the retailer, first joining as design director in 2001, then moving up to chief creative officer in 2009 before adding the chief executive role to his name in 2014.
He gave up the CEO position to take up the roles of chief creative officer and president in July.
In late morning trading, Burberry shares were up 5.4% at 1,616.5p.