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Chirstopher Bailey steps down as Burberry design chief

Burberry Prorsum Runway- LFW Autumn  Winter 2010

On Tuesday, Burberry announced that Bailey would be leaving his position as chief creative officer and president at the end of March, after 17 years with the company.

Last year Mr Bailey's commercial responsibilities were taken over by Marco Gobbetti, who arrived from luxury brand CĂ©line after a slowdown in sales at Burberry which saw profits slip.

Bailey stepped aside as Chief Executive to make way for Marco Gobbetti in July 2016. He will exit the company completely by the end of 2018.

The decision is a turning point for Burberry, which in March reported annual revenue of 2.78 billion pounds, or $3.66 billion - and for the greater fashion industry, creating a coveted job opening while at the same time reinforcing the turmoil that has rocked the sector during the past two years.

"As an organisation, it is creative, innovative and outward looking". It celebrates diversity and challenges received wisdoms.

The 46-year-old was propelled into the role of chief executive in 2014, sharing it with his creative duties. It is part of the establishment, but it is always changing, and always learning.

Bailey has been with the company since 2001, serving as "a driving force behind Burberry's transformation", according to a statement.

As for what Bailey plans to do next, he's only indicated that he has plans to "pursue new creative projects", but for now, he's finishing out his tenure with Burberry in stride. Many credit the designer with helping to turn the British label into a global luxury brand. He was the mastermind behind Burberry's key flagship store on Regent Street and built a highly talented and experience creative team to continue the brand's story.

Christopher Bailey will leave Burberry after 17 years with the company.

Gobbetti said: "While I am sad not to have the opportunity to partner with Christopher for longer, the legacy he leaves and the exceptional talent we have at Burberry give me enormous confidence in our future". I loved, it still had the Burberry coats but it had a big influence of sportswear. "We have a clear vision for the next chapter to accelerate the growth and success of the Burberry brand and I am excited about the opportunity ahead".