Burberry burns millions of unsold stocks

Burberry burns millions of unsold stocks.

Luxury clothing brand Burberry burned $37.8 million worth of its pricey trench coats, bags and perfumes last year to prevent them from being stolen or sold to the “wrong people,” according to The Times of London.

Burberry’s annual report shows that the London-based company incinerated $1,800 trench coats and $250 polo shirts among the $13.76 million in beauty products, and $24 million in ready-to-wear products and accessories it destroyed. That’s more than usual. The company said it’s burned $116 million worth of unsold Burberry products in five years.