Rose Marie Bravo turned neglected Burberry into a luxury powerhouse worth £1.8B

In 1997 Burberry was a neglected 141-year-old brand with sales of about £250 million, profits of £25 million, dropped by Harvey Nichols and Selfridges and facing what looked like a slow, inevitable demise.

Rose Marie Bravo, recruited from Saks Fifth Avenue as CEO in September 1997, refocused the brand on its heritage — the trench coat, gabardine and the check — cut licenses and rebuilt distribution.

By April 2004 City analysts forecast turnover of £670 million and profits of £134 million, and the company's stock market value reached £1.8 billion.

Owner GUS floated Burberry in July 2002 at an offer price that valued the brand at £1.15-1.45 billion — five years after Bravo took over a business worth about £200 million.

Sales went from about £250M in 1997 to a projected £670M turnover and £134M profit in 2004; the company floated in 2002 and was worth £1.8B by April 2004.

Repositioning from rainwear maker to full luxury brand expanded the product and price range.

Cutting and controlling licenses protected the check from mass-market dilution.

Consistent design leadership and celebrity dressing rebuilt desirability.

A tired brand can be revived without changing its DNA: Burberry's fix was editing — prune licenses, control distribution and reposition the check from mass-market to luxury.

Angela Ahrendts carried the momentum from 2006 to 2014, pushing revenue to £2.33 billion by FY2013/14, after which Christopher Bailey took over. Bravo's 1997-2004 turnaround remains the standard case for reviving a heritage luxury brand.