The decline of Burberry should be a cautionary tale for British luxury brands relying on heritage, writes Manfredi Ricca

When American composer George Gershwin visited his idol, Maurice Ravel, and asked whether he could study with him, Ravel famously replied, “Why would you want to be a second-rate Ravel when you can be a first-rate Gershwin?”

This tale captures the spirit of what seems to have been going on with Burberry.

The decline of Burberry

Back in the early 2010s, with Angela Ahrendts and Christopher Bailey at the helm, Burberry struck a perfect balance between three elements: the brand’s origins (the trench), its cultural relevance (a celebration of Cool Britannia) and an underserved group of target customers (younger, digital-savvy audiences).

But the past eight years have seen Burberry fight to establish itself as a fully fledged luxury house – a struggle that has seen it fail to deliver growth or profit. In 2018, the brand dropped its iconic knight pictogram, diminished the use of its check pattern and turned to less familiar categories. It has since rebranded twice – ending up as an unlikely Chanel rather than a perfect Burberry.

This brand confusion has led to a dilution of the brand’s essence and less association with luxury. Inevitably, its financials have reflected the chaos. Profits have fallen 17 per cent, and to reduce costs by 2027, the........

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