Burberry burns bags, clothes and perfume worth millions

Latest news

    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


    In the same category are

    Inside the Celebrity Big Brother 2018 house Image copyright Channel 5 This year's Celebrity Big Brother contestants may not yet have been confirmed - but we do have the first pictures of the h...
    Christine Hallquist: First transgender governor nominee picked Image copyright Reuters Image caption Christine Hallquist is the first transgender person to win a major party nomination for governor A former en...
    Huddersfield child sex inquiry: Thirty-one people charged Thirty men and one woman have been charged with offences linked to child sexual exploitation in Huddersfield. The offences relate to five women when t...
    Italy bridge: Grief and anger over collapse in Genoa Image copyright EPA Image caption Work is still going on to try to find survivors Grief in Italy for the 37 victims of a collapsed motorway bridge...
    Crews tackle blaze near Manchester Strangeways prison Image copyright GMFRS Image caption The building has been declared dangerous and demolition work is due to start later A fire has broken out at a ...
    UK inflation rate rises for first time since November UK inflation rose to 2.5% in July, after holding steady at 2.4% in the previous three months as the cost of computer games and transport increased.I...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.