Burberry Pays TfL £200k for ‘Confusing’ Bond Street Rebrand
- Luxury brand changes name of London tube station during fashion week
- Freedom of Information request reveals sum paid to Transport for London
- Payment is a small fraction of Burberry’s annual revenues of £3 billion
Luxury goods brand Burberry paid £200,000 to change the name of London’s Bond Street Tube station during fashion week, causing confusion for thousands of tourists.
The amount was revealed through a Freedom of Information request sent to Transport for London, the organization responsible for the Underground.
TfL’s decision to allow the fashion house to rename the station ‘Burberry Street’ received criticism from both tourists and London residents.
Colour co-ordinated: TfL’s decision to allow the fashion house to rename the station ‘Burberry Street’ attracted sharp criticism from both tourists and Londoners
The commercial rebranding was described as ‘utterly confusing’ and ‘moronic’.
In addition to the name change, all of the station’s roundel signs were repainted in Burberry’s ‘knight blue’ color.
The £200,000 payment is a small fraction of Burberry’s annual revenues, which exceeded £3 billion.
It would only buy four Feather Stretch Viscose Gowns priced at £50,000 each, and it would not significantly impact TfL’s funding gap of nearly £750 million.
Shares in the company have dropped by 15% this year due to concerns about a slowdown in the Chinese economy affecting Burberry’s sales.
Meanwhile, rival group Louis Vuitton owner LVMH reported a sharp deceleration in sales growth.
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