Burberry burns millions in unsold products to protect brand

Luxury British fashion house Burberry destroyed tens of millions of dollars worth of its fashion and cosmetic products over the past year to protect its brand.
The company burned unsold clothes, accessories and perfume worth £28.6 million (32 million euros, $37 million), according to its annual report, in a practice now common across the industry to guard against counterfeiting.
Retailers describe it as a measure to protect intellectual property and prevent products being stolen or sold at discounted prices.
“Burberry has careful processes in place to minimise the amount of excess stock we produce,” the company said in a statement.
“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.”
Among the products destroyed were £10.4 million worth of beauty items, which Burberry said was a one-off related to a licence it agreed with beauty company Coty last year.
The firm — which announced a slight rise in annual profits in May to £294 million — has said it takes its environmental obligations seriously and harnesses the energy from burning the items.— AFP