Angela Ahrendts, Burberry Chief Executive, Joins Apple to Boost Sales in China
Angela Ahrendts, the Burberry chief executive who was the highest paid CEO in the U.K. last year, has been hired for a new role at Apple.
After her appointment in 2006, Ahrendts was credited for her ability to expand Burberry's presence in Asia by looking for new ways to excite consumers about its products. Under her direction, the sales of luxury good such as trench coats, handbags and shoes in Asia, and the brand's market value have increased tremendously. Her strategy for such successful results was to use digital and social media to make luxury goods more accessible, much more quickly than Burberry's high-end competitors.
Despite being its largest market outside the U.S., Apple surprisingly has struggled in China. The recently launched iPhone 5C was designed to appeal to Chinese buyers seeking a more affordable product, however sales have been slow. Apple needed someone who can improve the company's fortunes in China.
Acknowledging Angela Ahrendts' track record in emerging markets and digital retailing, especially deepening sales with China, Apple has made a big move by hiring Burberry's chief executive. Ahrendts will start taking charge of retail and online stores and report to Apple's CEO, Tim Cook in 2014, and by joining Apple, she'll be one of the highest profile women executives in technology.
Ishaq Siddiqu, a market strategist at ETX Capital in London comments on Arendts' new hire at Apple. "Ahrendts knows the emerging market world far better than most executives... that's why Tim Cook has chosen her," says Siddiqu.
Christopher Bailey will be replacing Angela Ahrendts and become Burberry's new chief executive officer, in addition to his current responsibilities as chief creative.
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