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Burberry Burns Stock Worth Millions

Luxury British brand Burberry reportedly burned £28.6m worth of unsold garments, accessories and fragrances last year in a bid to prevent the items from being sold at lower prices and through unfair means.

The 162-year-old brand maintains that the incineration was done in an environment-friendly manner, with the energy produced through the process being captured and harnessed for other uses. According to reports, Burberry has done away with £90 million worth of stock over the last five years.

While this is a common practice among luxury brands, the annual report for Burberry clarified the exceptionally high amount for last year, as well as why so many cosmetic and beauty products were caught in the crossfire: it has to do with the agreement signed by Burberry and US-perfume brand Coty, which saw the handing over of the group’s beauty business to the American brand, leading them to do away with their old perfume stock.

Despite an attempt to defend the decision being made, people all over are voicing their views against the decision to burn stock, deeming it to be wasteful and not environment-friendly.

By maxim