Burberry Is Looking for New Friends

In these down times, fashion brands are searching for a way to stay profitable. Burberry, the British company that has relied on a sensibility that dates back to the 19th century, is looking to the 21st century to do that by starting a Facebook-like social network. Next month the brand, known for its iconic trench coat, will launch, the Financial Times reports. Potential users will be "customers who need the brand experience, who need to feel the brand," a Burberry executive said. "That word-of-mouth spreads through their social networks and continues to be a positive conversation."