Christopher Bailey to Step Down as Chairman of Burberry

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The fashion world has experienced another major shake-up. This is after it has emerged that Christopher Bailey will be leaving his current position. At the moment, Christopher Bailey functions at the president and creative officer of a fashion company known as Burberry. This is a man who is known in the fashion industry for having transformed a local heritage to a global brand, making billions in the process. After 17 years of service, his company announced that he would be stepping from his current position come March 18. This will then be followed by a complete departure in December 2018. He will be leaving a company he helped co-found. This, on the other hand, is seen as a turning point for the company which is the largest luxury brand in the United Kingdom. In March this year, the company announced that it had made a revenue of $3.7 billion. His departure will also be a turning point for not only his company but the greater fashion industry. This creates an opportunity for the continuation of the turmoil that has rocketed the multi-billion dollar industry in the last few months. His departure also opens are coveted job opening and a race to replace him. The fashion industry has a tendency of emphasizing new products rather than consistency.

This means that he is also the latest executive to leave the industry this year. 2017 has seen the departure of seven executives that include Hedi Slimane of Saint Laurent and Alber Elbaz of Lanvin. The other is Givenchy former executive Riccardo Tisci Tisci. They have, on the other hand, been replaced by tops names such as Clare Waight Keller, Raf Simons, and Maria Grazia Chiuri. The decision to leave has underscored the common belief in the fashion world that executives have to stay in their respective positions for the company to succeed. The decision to leave has also been interpreted as a loss of invaluable skills. The head of luxury goods at the company said that the move was necessary if the company was to become exciting again. However, she further said that creative directors are just like artists. She compared them to singers, composers, and painters who always produce variations in their works especially on themes. The outgoing executive is known for his geniality as well as his tendency of maintaining a low profile life. He became the creative director of the company in 2004 and ascended to the position of creative officer in 2009.

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