Burberry Gets 30 Percent of U.K. Sales From Chinese Visitors

Chinese visitors to the U.K. account for 30 percent of Burberry Group Plc's business in Britain, according to Angela Ahrendts, the luxury retailer's chief executive officer, the Financial Times reported.

Stacey Cartwright, the chief financial officer, said such sales are being boosted by the pound's weakness, adding that Burberry goods are 40 percent cheaper in the U.K. than in China, mainly because of taxes and duties, the newspaper reported.

Burberry, having bought out its 50 franchises in China in a 70 million-pound ($110 million) transaction, plans to add another 10 stores there by the end of the year, the FT said.