Burberry is hoping to reinvent itself as a super luxury brand. But investors aren’t so sure. Shares in the British fashion label dropped by as much as 12% on Thursday after the company said it planned to shift upmarket and offer more “compelling” leather goods. Burberry, which is known for its trench coats and checked patterns, also said it would refurbish its shops and stop selling its products in “non-luxury” stores. The moves are designed to help the company compete against the likes of Louis Vuitton and Gucci, which have built their reputations on pricey leather handbags.
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