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Belgian billionaire Frere to sell Burberry stake

Reuters 

(Reuters) - Albert Frere is selling his entire stake in Burberry , the Belgian billionaire's Groupe Bruxelles Lambert (GBL) said on Tuesday, after a period of management upheaval at the British fashion house.Proceeds from the disposal would help GBL to pursue new investments and rebalance its portfolio, it said in the statement without elaborating.Burberry, famed for its trench coats and trademark check in camel, red and black, recently parted company with Christopher Bailey, the designer who turned it into a global brand and later became CEO, and last year appointed Marco Gobbetti as its new ...

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First Published: Wed, May 09 2018. 00:51 IST
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