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| Burberry burns bags, clothes and perfume worth millions | Burberry burns bags, clothes and perfume worth millions |
| (about 1 hour later) | |
| Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand. | Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand. |
| That was 6% higher than the value of products the company disposed of in the previous financial year. | |
| Fashion firms including Burberry destroy unwanted items to prevent them being stolen or sold cheaply. | Fashion firms including Burberry destroy unwanted items to prevent them being stolen or sold cheaply. |
| Burberry said that energy generated from burning its products was captured, making it environmentally friendly. | Burberry said that energy generated from burning its products was captured, making it environmentally friendly. |
| The FTSE 100 company said last year was unusual as it had to destroy a large amount of perfume after signing a new deal with US firm Coty. | The FTSE 100 company said last year was unusual as it had to destroy a large amount of perfume after signing a new deal with US firm Coty. |
| As Coty would be making new stock, Burberry had to dispose of £10m worth of old products - largely perfume. | As Coty would be making new stock, Burberry had to dispose of £10m worth of old products - largely perfume. |
| Burberry is in the midst of a revamp intended to "re-energise" its products over several years. | Burberry is in the midst of a revamp intended to "re-energise" its products over several years. |
| That includes taking its brand further upmarket, closing stores that are not in "strategic" locations and creating a "centre of excellence" for luxury leather goods. | That includes taking its brand further upmarket, closing stores that are not in "strategic" locations and creating a "centre of excellence" for luxury leather goods. |
| It has also cut costs, which helped boost profits. | It has also cut costs, which helped boost profits. |
| In Burberry's most recent financial year to 31 March, the company reported a 5% rise in profit to £413m, with sales little changed at £2.7bn. | In Burberry's most recent financial year to 31 March, the company reported a 5% rise in profit to £413m, with sales little changed at £2.7bn. |