Belgian richest man has become one of burberry’s board directors

Belgian richest man Albert Frere recently announced the acquisition of the British luxury goods group Burberry 3% stake, it is noteworthy that, Albert Frere for another luxury group LVMH independent director. According to Burberry latest quarterly, Burberry performance has been revealed recovery trend. Analysts believe that this time shares Burberry, means that Albert Frere optimistic about the future performance of Burberry.

It is understood that Albert Frere is an independent director of LVMH Group and has been a business partner for Bernard Arnault, chairman of LVMH’s board of directors for another luxury group, and both have invested in Bermuda’s Bermuda. In addition, Albert Frere also holds a 5% stake in Adidas with its investment company GBL and holds a seat in the Adidas board of supervisors.

Analysts believe that Albert Frere shares Burberry at this time, clearly showing the prospects for the recovery of Burberry future performance. According to Burberry latest earnings, Burberry comparable store sales have increased by 3%, retail sales grew 22%. Burberry said that the growth of performance is only the initial stage of future long-term development, the Group will continue to take action to promote business growth.

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