In May 2018, Richemont, the owner of the jewelry and watch brands Cartier, Piaget, and Baume & Mercier, admitted that in an effort to keep its products out of the hands of unauthorized sellers, it had destroyed about $563 million worth of watches over the past two years. Last year, for example, a Danish TV station revealed that the fast-fashion retailer H&M had burned 60 tons of new and unsold clothes since 2013. Every now and then, though, bits of information will trickle out. Brands destroy product as a way to maintain exclusivity through scarcity, but the precise details of who is doing it and why are not commonly publicized. Yet Burberry is hardly the only company to use this practice it runs high to low, from Louis Vuitton to Nike. The outrage worked: Burberry announced two weeks ago it would no longer destroy its excess product, effective immediately. People vowed to boycott Burberry over its wastefulness, while members of Parliament demanded the British government crack down on the practice. Shoppers did not react well to this news. In July 2018, the brand admitted in its annual report that demolishing goods was just part of its strategy to preserve its reputation of exclusivity. The British luxury brand Burberry brought in $3.6 billion in revenue last year - and destroyed $36.8 million worth of its own merchandise.
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