Burberry Exits FTSE 100 After 15 Years

Burberry Group has been relegated from London's FTSE 100 index to the FTSE 250 after 15 years, following a significant decline in sales and a series of management changes. The luxury brand's stock price has plummeted by around 70% over the past year, largely due to weak demand from China and strategic missteps. Burberry's former CEO, Jonathan Akeroyd, departed in July after the company reported disappointing earnings, and the new CEO, Joshua Schulman, faces challenges in restoring the brand's image. The company's market capitalization has fallen to £2.34 billion ($3.06 billion), impacting investor confidence and resulting in funds exiting their Burberry holdings. The luxury sector's overall struggles, particularly in the Chinese market, have further compounded Burberry's difficulties. As the company aims to revitalize its brand, analysts warn that significant investment and time will be required to regain consumer favor.