Luxury retailers burn millions of dollars of goods.
And it’s all about protecting your image and brand.
And fashion is so fickle.
But can it sometimes be carried too far?
Luxury retailer of London has burned $40 million worth of its pricey trench coats, bags and perfumes.
The move was justified on the grounds that it prevented the goods from falling into the wrong hands or being stolen.
The company burned trench coats costing $2,400, polo shirts worth $325, beauty products worth $18 million, and ready-to-wear products and accessories worth $32.
The company said it’s burned $151million worth of unsold Burberry products in five years.
Fashion firms including Burberry destroy unwanted items to prevent them being stolen or sold cheaply.
In a feeble attempt to justify the burning the company said the energy generated from burning the luxury goods was captured, making it environmentally friendly.
“Burberry has careful processes in place to minimise the amount of excess stock we produce. On the occasions when disposal of products is necessary, we do so in a responsible manner and we continue to seek ways to reduce and revalue our waste,” a spokesperson for the company said.
But Burberry is not the only high-end retailer destroying its high-end merchandise.
Other luxury retailers burn millions of dollars of goods: H&M, Chanel, and Louis Vuitton.
“The reason they are doing this is so that the market is not flooded with discounts,” Maria Malone, principal lecturer on the fashion business at Manchester Metropolitan University, told the BBC. “They don’t want Burberry products to get into the hands of anyone who can sell them at a discount and devalue the brand.”
The reason they are doing this is so that the market is not flooded with discounts. They don’t want Burberry products to get into the hands of anyone who can sell them at a discount and devalue the brand,” Ms Malone said.