[ad_1]
The luxury label would have cremated the goods to protect its high-end brand and guard against counterfeiting. Burberry, famed for its iconic trench coats and scarves and plaid bags, would be the world's most copied designer brand in a billion-dollar global counterfeit industry.
The revelations were made in the last Burberry account books. Part of the 28 million pounds was made up of 10 million pounds of perfumes and cosmetics that the company had to destroy after signing a new agreement with the American firm Coty in 2017.
Destroying products is a common practice for the luxury goods industry, said an insider of the retail industry at TOI.
Besides the protection of intellectual property, it is also done to protect the value of the brand, added the insider.
"They do not want them to be sold cheap because it devalues the brand.The problem is that you have to predict what you want to produce in advance without knowing if it will sell so that these products are left behind because of errors in these calculations.Cosmetics have a shelf life … "
A company spokesman told TOI: "Burberry has put in place thorough processes to minimize the amount of excess stock we produce .In cases where the disposal of products is We do this responsibly and continue to look for ways to reduce and re-evaluate our waste.
This is an essential element of our "2022 Accountability Strategy" and we have forged partnerships and supported innovative organizations to help achieve this goal .
The London-based 2.7 billion-pound company plans to become carbon-neutral by 2022. Burberry, which opened its first store in India in 2008, said it would work only with specialized companies capable of exploiting the energy process.
Source link
