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The British luxury brand group, Burberry, is to invest over £50 million (US$75.5 million) in a new manufacturing plant in the UK.
The new plant will be based in Leeds, northern England, and should create over 1,000 jobs. It will allow the company to increase production of its iconic trench coat.
The company also announced that it will unify its Prorsum, London and Brit lines under the Burberry label by the end of 2016.
The British group expects its full-year profits to be on decline for the second consecutive year. Read more here.