Luxury fashion retailer Burberry has announced the appointment of a former executive as its new chief product merchandising and planning officer, following the appointment of chief executive officer Joshua Schulman.
Paul Price, who was previously Burberry’s chief merchandising officer between 2007 and 2017, has returned to the British luxury brand.
Price will take on the role of chief product merchandising and planning officer from December 9, 2024, and will be relocating to London in January next year as part of the role.
He will take the lead on the luxury brand’s merchandising and planning teams alongside licensing, architecture and the showroom teams at Burberry.
He will join the executive committee and report directly to newly named chief executive Joshua Schulman.
During his career, Price has held senior roles at several fashion retailers and was previously chief executive at Topshop between 2017 and 2020, as well as chief executive at James Perse in Los Angeles for nine months until January 2021.
Price also founded a consulting firm in 2021 – Paul Price Global Consulting, which he still runs today.
Price said of his appointment: “I’m truly excited to be joining Burberry. Burberry is such an iconic brand with an incredible legacy in British fashion and luxury.
“Its rich history and unique cultural resonance set it apart and I am thrilled to be part of this next exciting chapter in Burberry’s evolution and growth.”
Burberry boss Schulman said: “I am delighted to welcome Paul to Burberry. He is an exceptional merchant and retail leader who has led high-performing teams across channels and geographies. Paul combines business acumen and a focus on the customer with a dynamic and energetic leadership style.
“As a key member of the Burberry leadership team during the company’s peak era of value creation, Paul was responsible for product strategies that led to consistent double-digit growth.
“I look forward to working with Paul and know he will help unleash the commercial and creative alchemy that will drive Burberry forward.”
The news comes amid a turbulent time for Burberry after its most recent trading update for the first quarter saw retail revenue declining 22% to £458m.
This came alongside the departure of chief executive officer Jonathan Akeroyd, and the appointment of former Jimmy Choo and Michael Kors boss Joshua Schulman as its new chief executive.
Burberry’s share price was also boosted last week after speculation swirled around a potential takeover by Italian rival Moncler.
Despite reports that Moncler was mulling over a bid, a spokesperson for Moncler told The Guardian it did not comment on “unsubstantiated rumours”.
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