Burberry is paying €21 million to acquire a business unit from longstanding supplier Pattern, allowing the company to bring product development for technical outerwear in-house. The deal is expected to close later this year.
As part of the deal, the British heritage brand will gain employees, equipment and inventory to boost control of “quality, delivery, and sustainability” for products including quilted and down pieces. Burberry’s signature trench coats will continue to be woven and manufactured in its Yorkshire manufacturing sites, the brand said in a statement.
The move comes as Burberry seeks to make outdoor outerwear a focus in the brand’s product offer under new designer Daniel Lee. “This strategic investment is an important next step in bringing our outerwear category to full potential,” chief executive Jonathan Akeroyd said.
About 70 of Pattern’s employees at the Turin site will join Burberry on completion of the deal. Pattern will continue to operate the other parts of its business not included in the transaction.
Learn more:
Inside Burberry’s Growth Strategy
In an interview with BoF the day of his first major speech to investors, Burberry’s new CEO Jonathan Akeroyd outlined his plan for growing the British house into a £5 billion megabrand alongside designer Daniel Lee.
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