HONG KONG, April 15 (Reuters) - Burberry Group's chief financial officer, Kate Ferry, said on Wednesday Asia had very compelling long-term prospects for the luxury retailer, but recognised there would
Burberry CFO says Asia has compelling prospects but faces increased competition
Burberry's Strategic Outlook and Market Performance in Asia
HONG KONG, April 15 (Reuters) - Burberry Group's chief financial officer, Kate Ferry, said on Wednesday that Asia had very compelling long-term prospects for the luxury retailer, but recognised there would be intensified competition.
Ferry was speaking on a panel at the HSBC Global Investment Summit in Hong Kong.
Long-Term Prospects and Competitive Landscape
"I think certainly the long term in Asia is very compelling, it's going to be more competitive," she said.
Brand Identity and Local Customization
"And I think what really matters is how brands manage to forge their own path. What's going to be really important is a very clear brand identity, I think really strong product authority and actually a really deep understanding of local custom."
Performance in the Chinese Market
Gen Z Demand and Sales Growth
Burberry said in January that strong demand from Gen Z consumers in mainland China had helped it beat comparable store sales expectations for the quarter to December 27.
Comparable Sales and Recovery
Sales in China rose 6% on a comparable basis as the brand continued its recovery in the key luxury market.
Marketing Initiatives in China
The company has made a concerted push into the country, and launched a campaign ahead of Chinese Lunar New Year to mark the Year of the Horse.
(Reporting by Summer Zhen in Hong Kong; Writing by Scott Murdoch; Editing by Himani Sarkar and Kevin Buckland)
