(Yicai Global) Nov. 15 -- British fashion house Burberry is reportedly considering issuing Chinese depositary receipts via the Shanghai-London Stock Connect, which is due to open this year.
As the stock link is still in its preliminary phases, the London-based firm has not released any details on a schedule for the CDRs, Jiemian News reported, citing a company insider.
Burberry was founded in 1856 and has been to the top and bottom of the fashion world. It has received multiple Royal Warrants, allowing it to produce on behalf of the British Royal Family, but struggled with branding in the early 2000s due to association with chavs -- or juveniles with a tendency to engage in anti-social behavior.
The firm began to lag behind rivals like LVMH -- best known as the owner of Louis Vuitton -- and Hermes, but has got back on track with first-half profit of GBP173 million (USD225 million) this year, up 36 percent on the year despite a 3 percent dip in sales to GBP1.2 billion, according to the Burberry's financial report.
Whether or not the company can maintain the rapid gains in the face of a looming Brexit remains to be seen.
Editor: James Boynton