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Burberry Burns Unsold Stock: Fashion`s Dirty Open Secret? |
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INTRODUCTION |
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| On September 6, 2018, UK-based luxury fashion giant Burberry Group PLC (Burberry) announced that it would stop burning unsold clothes after it came in for severe criticism from industry analysts, environmentalists and consumers for resorting to such a practice. Burberry’s annual report, released in June 2018, said, “The cost of finished goods physically destroyed in the year was £28.6million [about US$37.8 million], including £10.4 million of destruction for beauty inventory.” The total value of goods destroyed by the label since 2013 was £ 90 million. Burberry announced that goods including clothes, accessories, and perfume had been burned. However, it claimed that they had been destroyed not to maintain exclusivity but to prevent counterfeiting. .. |
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