The inclusion of the Apple iPhone 5S in Burberry’s runway show for Spring/Summer 2014 Womenswear Collection was actually a prelude of sorts. Just as the European market readied for the day earlier this morning, Apple sent out a to-the-point press release about the company’s newest hire, Burberry CEO Angela Ahrendts. To be effective by mid-2014, Ahrendts will leave Burberry for Apple, where she will be the tech giant’s Senior Vice President of Retail and Online Stores. In this newly created executive position, Ahrendts will be overseeing “the strategic direction, expansion and operation of both Apple retail and online stores” and set new “standard for customer service with innovative features…”
Immediately after Apple’s statement, Burberry followed with a video presentation. On it, Burberry Chairman Sir John Peace announced the appointment of Christopher Bailey, the label’s current Chief Creative Officer, to the CEO position when Ahrendts departs. After years of stagnated growth, Burberry enjoyed a resurgence during the last decade largely because of Bailey’s fresh design senses. While he’s involved in all aspects of Burberry, including every retail space designs and the interior of the new global headquarters at London’s Horseferry House, Bailey is still untested as a corporate executive. That uncertainty brought Burberry’s shares down by 8.6% to the day’s low of £1,467 GPB or around $2,339 USD. Continue on to view Burberry’s announcement video below.