Many older luxury brands face a quandary in modern times. Although their brand is usually based on a long, storied history, the brand must be reconfigured to appeal to modern-day consumers. In many ways, Burberry is the archetype of this problem. Burberry was founded 155 years ago in London; the brand has developed a robust offering of clothing and accessories that promotes its premium image. However, as time wore on, and competition in the luxury goods space intensified, Burberry faced a number of difficult challenges.