Burberry to acquire luxury leather-goods business from CF&P



Burberry to acquire luxury leather-goods business from CF&P
LONDON, 15-May-2018 — /EuropaWire/ — Burberry today announces it has entered into an agreement to acquire a luxury leather-goods business from longstanding Italian partner CF&P.

CF&P employees, including the team of expert craftsmen who have worked closely with Burberry for more than a decade, will transfer to the Company on completion of the transaction, expected later this year.
Marco Gobbetti, Chief Executive Officer, commented:
“This acquisition is a major milestone for us and a statement of our ambition in this strategically important category. It will create a centre of excellence for Burberry’s leather goods, covering all activities from prototyping, product innovation, engineering and the coordination of production. This will give us greater control over quality, cost, delivery and sustainability of our leather goods.”
ENDS
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Charlotte Cowley
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Notes

CF&P, based in Scandicci, Italy, specialises in the development and manufacture of luxury leather handbags and accessories
Burberry’s newly acquired operations will remain at the current site
The acquisition includes equipment and inventory
The parts of CF&P not included in the transaction will continue to operate as separate entities under the CF&P name, but at a different site

About Burberry

Burberry is a global luxury brand with a distinctly British attitude
Burberry designs and sources apparel and accessories, selling through a diversified network of retail (including digital), wholesale and licensing channels worldwide
Burberry, which was founded in 1856, is headquartered in London. It is listed on the London Stock Exchange (BRBY.L) and is a constituent of the FTSE 100 index. Its ADR symbol is OTC:BURBY
BURBERRY, the Equestrian Knight Device and the Burberry Check are trademarks belonging to Burberry that are registered and enforced worldwide

SOURCE: BURBERRY