Burberry torches £28.6m worth of unsold inventory to keep prices high

In 2017, luxury fashion company Burberry set fire to £28.6m worth of unsold gear, bringing the five-year immolation tally to more than £90m; the company routinely burns unsold goods to prevent them from entering the discount market when new lines are released.

The company says that this is environmentally friendly because the energy from the incineration is captured.

Capitalism is the best system because it produces the most efficient allocation of goods.

"Burberry has careful processes in place to minimise the amount of excess stock we produce. 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," a spokesperson for the company said.

Burberry burns bags, clothes and perfume worth millions [Ben Morris/BBC]

(via Late Stage Capitalism)