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Burberry chief quits to return to Italy at helm of Ferragamo

Burberry boss Marco Gobbetti is leaving the British fashion firm to take the top job at Italian luxury brand Ferragamo. Julian Satterthwaite reports.

Gobbetti has been pushing the brand further upmarket and is credited with boosting Burberry’s market value by a third, an achievement reflected in the market following the announcement which saw the company’s London-listed shares tumbling by up to 10% while Ferragamo saw a 2.3% lift in Milan.

Burberry chairman Gerry Murphy said: “The board and I are naturally disappointed by Marco’s decision, but we understand and fully respect his desire to return to Italy after nearly 20 years abroad.”

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