The one blip has been in Spain, where Burberry has suffered a sharp decline in sales, prompting it to announce in February that it would close the loss-making business.Angela Ahrendts, the boss of fashion group Burberry, banked more than £6m last year as the company managed to steer a successful course through the recession to report record profits.

US-born Ahrendts, 50, took over the chief executive role at Burberry in 2006 and has continued the revival of the brand that began under her predecessor, another American, Rose Marie Bravo.

Her salary was held at £910,000, but she earned her maximum bonus of £1.8m and was given another £387,000 in "allowances", which includes a clothing allowance. A spokesman said she is expected to pay for her Burberry wardrobe.

In addition, the company contributed another £273,000 to her pension and she made £2.8m from cashing in share options.

The spokesman noted that the company's share price had risen by 131% during the period and that she had met all of her targets. "There is a lot of momentum in the business and she is delivering for shareholders," he said.

In May, the company reported profits of £215m, up 23% on the previous year, while sales were 7% higher, reaching £1.28bn. The business signed up Harry Potter star Emma Watson to feature in its advertising campaigns, the latest in a string of high-profile actors and models to promote the brand.

The firm intends to open a further 20 to 30 stores this year, focusing expansion on emerging markets including Brazil, Mexico and India as well as pushing its online sales. It is also developing a chain of casualwear stores called Burberry Brit and will open a second in New York this year. A Burberry Brit store is expected to follow in London.

The one blip has been in Spain, where Burberry has suffered a sharp decline in sales, prompting it to announce in February that it would close the loss-making business.

Before joining Burberry, Ahrendts had worked at the American fashion group Liz Claiborne.
POST: 2024-11-24