A new Burberry handbag and the final collection from Christopher Bailey has helped the British brand beat analyst’s expectations as it released a statement explaining a 5% rise in annual profits.

The rise in profits is all thanks to Christopher Bailey’s rainbow-hued collection which was launched in February and another collection with the acclaimed Russian designer brand Gosha Rubchinskiy. The new design chief, Riccardo Tisci (of whom was the old design chief at Givenchy), will present his first collection with the brand this autumn.