Burberry weaving facility plans on hold
18/07/2016
Burberry chairman, Sir John Peace, said after the company’s annual meeting in July 14 that it still plans to go ahead with the building of the plant but is choosing to be “very cautious” on its investment plans.
“We’ve certainly put it on hold for the moment, but that might be for a very short period of time,” he said. “It depends on how events unfold. It’s not in terms of reversing our decision to do it or not. But it’s the speed at which we invest.”
Burberry announced plans to build the facility in November 2015. It is expected provide jobs for 1,000 people and be dedicated to the production of what Burberry calls its most iconic product – the heritage trench coat. Work was due to start this year with completion by 2019, but that date will now be pushed back.
Share this story:
