Christopher Bailey has quit Burberry.

The 46-year-old fashion designer has decided to step down as designer of the British brand after 17 years at the helm of the company, but the mogul will continue to hold the title as President and Chief Creative Officer at the fashion house until March next year, the Business of Fashion Online has announced.

And the creative mastermind has admitted it has been ''a great privilege'' working for the prestigious brand, and working with an ''extraordinary group of people'' throughout his career.

Speaking about his departure, he said: ''It has been the great privilege of my working life to be at Burberry, working alongside and learning from such an extraordinary group of people over the last 17 years.''

But Christopher has no doubts Burberry's ''best days are still ahead'', and the business will continue to grow in the future.

He continued: ''I do truly believe, however, that Burberry's best days are still ahead of her and that the company will go from strength to strength with the strategy we have developed and the exceptional talent we have in place led by Marco [Gobbetti]''.

And Christopher has revealed his future will see him work on ''new creative projects''.

He concluded: ''I am excited to pursue new creative projects but remain fully committed to the future success of this magnificent brand and to ensuring a smooth transition.''

Burberry's chief executive, Marco Gobbetti, has hailed Christopher for being ''instrumental'' in the success of the brand, and though he is sad to see the mogul leave he believes Christopher's ''legacy'' will propel the brand in the future.

He said: ''Burberry has undergone an incredible transformation since 2001 and Christopher has been instrumental to the company's success in that period. While I am sad not to have the opportunity to partner with him for longer, the legacy he leaves and the exceptional talent we have at Burberry give me enormous confidence in our future.

''We have a clear vision for the next chapter to accelerate the growth and success of the Burberry brand and I am excited about the opportunity ahead for our teams, our partners and our shareholders.''