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Fortune
Fortune
Prarthana Prakash

Burberry shares soar as new CEO Josh Schulman admits 'lack of focus on outerwear,' vowing to turn losses around

Burberry CEO Joshua Schulman pictured in 2016. (Credit: Sylvain Gaboury/Patrick McMullan—Getty Images)

Burberry hasn’t got a lot right in recent years. But its new CEO, Joshua Schulman, wants to act fast and “course correct” to save the ailing British luxury brand.

The London-listed company has been rattled by the luxury downturn affecting the rest of the industry. It’s also had to question its path as the pandemic changed how people thought about luxury goods—particularly in China, where Burberry makes a good chunk of its sales.   

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