Burberry burns bags, clothes and perfume worth millions

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    Model on Burberry catwalkImage copyright Getty Images

    Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand.

    That was 6% higher that the value of products the company disposed of in the previous financial year.

    Fashion firms including Burberry destroy unwanted items to prevent them being stolen or sold cheaply.

    Burberry said that energy generated from burning its products was captured, making it environmentally friendly.

    The FTSE 100 company said last year was unusual as it had to destroy a large amount of perfume after signing a new deal with US firm Coty.

    As Coty would be making new stock, Burberry had to dispose of £10m worth of old products – largely perfume.

    Burberry is in the midst of a revamp intended to “re-energise” its products over several years.

    That includes taking its brand further upmarket, closing stores that are not in “strategic” locations and creating a “centre of excellence” for luxury leather goods.

    It has also cut costs, which helped boost profits.

    In Burberry’s most recent financial year to 31 March, the company reported a 5% rise in profit to £413m, with sales little changed at £2.7bn.

    View the original article: https://www.bbc.co.uk/news/business-44885983

    https://www.bbc.co.uk/news/business-44885983

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