Posted by Alex Jackson on 14th Sep 2018
UK luxury brand Burberry came under fire earlier this year when it was reported that the company had incinerated nearly 40 million dollars in unsold merchandise. Destruction of slow-selling or dated merchandise often referred to as deadstock is a common practice in the world of fashion. This practice is particularly prevalent among luxury designers who want to preserve their brand's prestige and exclusivity and don’t like to be undercut by secondary market sellers. It’s one of those dirty secrets that most brands don’t want you to know about, for obvious reasons, it’s wasteful and it harms the environment plus its bad publicity if the company is caught destroying unsold goods.
Now what makes this case unique is that after some intense pressure the company backed down from future plans for the destruction of deadstock and instead vowed to reduce their waste footprint by recycling their unsold goods by either reusing for new garments or donating the goods to nonprofit organizations. This is a fairly radical new approach for leading manufacturers in the fashion industry who typically tend to pay lip service to sustainability issues. But this could ultimately prove to be not only great for the environment but also great for brand prestige for those companies that choose to embrace these sustainability practices. Want an example of a successful and environmentally friendly company? Take Tom’s shoes, not only do they offer an eco-friendly and vegan versions of their shoes they actually donate 1 pair of shoes to a child in need for every pair sold. Recycling in the fashion world has been relegated mainly to ideas and not to the physical product but this is finally starting to change, and this could be a big selling point to a more environmentally conscious consumer.
Consumers shopping habits are changing, and there is strong evidence that fast disposable fashion is losing steam in favor of higher quality designer goods. Consumers are realizing that fast fashion is the equivalent of a sugar rush, great for a minute but has no nutritional value. Instead, consumers are opting to dig a bit deeper into their pockets for better quality over quantity and brands that offer both quality and sustainability in their lines are one step ahead of the competition. Younger consumers such as the millennials and the gen Z generation are acutely aware of the negative impact that fast disposable fashion represents and are opting to buy fewer items but of better quality specifically to reduce their environmental impact. It stands to reason better quality garments are more durable and last longer reducing their negative environmental impact.
What resellers such as our readers need to be aware of is that fashion is undergoing a gradual change and that a focus on sustainability and quality over quantity is how to succeed as a reseller in the current retail environment. One final thought that may come as a bit of a shock to most readers but as a reseller of liquidated merchandise you are playing a critical role in keeping this merchandise from potentially ending up in a landfill or from being incinerated. Every sale you make benefits both you financially and the environment so go green and sell liquidation merchandise.
Our liquidation lots may contain Burberry, Toms shoes and other recognized brands. Do your part in saving a planet, place an order today at foxliqudiation.com.