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Article: GUS to cash in on Burberry turnaround with pounds 2bn float Once the attire of the country set, now Madonna sports the famous check
- Article from:
- The Independent (London, England)
- Article date:
- December 1, 2000
- Author:
CopyrightCopyright 2000 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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GREAT UNIVERSAL Stores, the mail order giant, unveiled plans for a
partial stock market flotation of its Burberry luxury goods brand
yesterday, which could value the business at pounds 1bn-pounds 2bn.
GUS will float up to 25 per cent of Burberry within the next 18
months. John Peace, the chief executive, said he would not be rushed
into an early float despite Burberry's status as one of the hottest
brands in fashion. Mr Peace said Burberry had numerous initiatives
under way that would increase the division's value including an
extension of the product range and an aggressive store opening. He
also said GUS needed time to beef up Burberry management and
logistics infrastructure before it ...