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Burberry Burned S$51 Million Worth Of Their Products, Here’s Why

(Source: www.asianmoneyguide.com)

A lot of people dream of owning products from luxury brands. In fact, people even save for months just so they can buy a bag, or clothing from one of these brands. And with the discovery that Burberry burns products, a lot of people were outraged. And to be honest, so were we!

However, Burberry claims that they have a good reason for destroying S$51 million worth of their products, despite people saying otherwise.

Burberry burns products to protect the brand

Burberry burns products

Burberry said that the millions of dollars worth of products were burned in order to protect intellectual property.

According to retailers, reducing the supply keeps the brand’s value intact. They add that it also prevents the surplus products from being sold at a lower price.

“Burberry has careful processes in place to minimise the amount of excess stock we produce,” the company said.

“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,” they add.

It’s a common practice for other fashion brands

Burberry burns products

Despite the company’s justification, a lot of people aren’t happy with the news, including shareholders.

Environmental groups disapproved with the act and called it wasteful. They add that the company could’ve disposed of their surplus better.

What’s more shocking is that Burberry isn’t alone in this practice. Numerous brands have done this before, such as Louis Vuitton, Chanel, Richemont, and even H&M . And it has been a problem in the industry for a long time.

More Info: www.asianmoneyguide.com

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