What’s going on with Romeo and why are Burberry investors upset?
He became the face of Burberry’s Christmas campaign just before they announced a profit fall.
OK, but what’s this got to do with Romeo?
Rumour has it the 12-year old made £45,000 for one day’s work to film the advert. But Burberry’s finance director Carol Fairweather and the Burberry team wouldn’t comment on his pay, and dodged questions from journalists when they reported the first half results.
How bad was it?
Burberry reported an 11 per cent drop in profits to £142m as currency woes hit its first half. Currency took £31m from its profit and £75m from sales.
But currency fluctuations have been a problem for all big companies recently right?
Exactly. The strong pound and euro against other global currencies has really hurt the bottom line of many global businesses.
Burberry Christmas campaign 2014