LONDON, United Kingdom — Angela Ahrendts, who many credit with transforming British luxury brand Burberry, is set to exit her role as the company’s chief executive in mid-2014 to join Apple. In an unusual move, Christopher Bailey, currently Burberry’s chief creative officer, will replace Ahrendts, taking on the dual title of chief creative and chief executive officer.
Following the announcement, Burberry shares fell by more than 6 percent in early trading on London’s stock exchange. According to market sources, Ahrendts is set to become Apple’s new head of retail, a position that has remained open since the departure of John Browett, who lasted less than a year after replacing the company’s first head of retail, Ron Johnson.
Ahrendts is the second senior fashion executive to be hired by Apple in recent months. In July, Paul Deneve, former chief executive of Yves Saint Laurent left the label to join Apple, working on “special projects as a vice president reporting directly to Tim Cook.” He is widely thought to be working on wearable devices — personal accessories with embedded sensors, displays and other digital technology such as Nike’s FuelBand, Google’s Internet-connected eye-wear and Apple’s rumored iWatch.
“I am profoundly honored to join Apple in this newly created position next year, and very much look forward to working with the global teams to further enrich the consumer experience on and offline. I have always admired the innovation and impact Apple products and services have on people’s lives and hope in some small way I can help contribute to the company’s continued success and leadership in changing the world,” Ahrendts said in a statement.
It is definitely evident that the major players in the success of luxe labels at native of the Asian & European countries. If the buying power and desire of luxury brands BEgin to dwindle then the fashion houses experience and lull in their market performance. We’ve seen such an insurgence of illegal imitations and counterfeit designer wears here in the US but clearly the other markets look for the authentic apparel.