Troubled Burberry Exits London's Top-tier Shares Index

Burberry was the FTSE 100's worst-performing company over the past year, with its share price tumbling about 70 percent (Credit: AFP)

British luxury fashion label Burberry is set to exit London's FTSE 100 after 15 years at the top-tier index, the stock exchange announced Wednesday, as analysts cited strategic mistakes and weak demand from China.

The relegation will "take effect from the start of trading" on September 23, the exchange's FTSE Russell subsidiary said in a statement.