High-end clothing manufacturer Burberry burned $37.8 million of unwanted products last year, sparking environmental concerns from its shareholders and a debate over the wastage by luxury brands. Designer brands often destroy unwanted stock to stop it from being sold at discounted prices and maintain the exclusivity of their products so they are not sold to the “wrong people,” The Times reported.

More info in the article
https://www.newsweek.com/luxury-brands-prefer-burn-millions-dollars-worth-clothes-over-letting-wrong-1032088

My thoughts on this news

This just goes to show you that corporations do not care about people nor the environment, all they care about is revenue and profits. There are millions of people on this planet who are homeless and cannot afford to buy clothes and a corporation like this destroys its own merchandise simply because it is more profitable for them to destroy it rather than sell it at discounted prices or give it away to people in need. This is how the global economy works, it is all about extracting the most currency possible from people, so the corporations and their owners can earn the most money, the rich get richer while everyone else struggles to pay their living expenses. An accountant or team of accountants for this corporation calculated that it is better to destroy the clothes they do not sell because in the long run they will earn more money this way, but their calculations do not account for the harm to society and the fact that there are millions of people in need...