Life sucks, we know.

Once you are 18 we promise to show you this content but not till then!
© 2017 ScoopWhoop Media Pvt. Ltd
Hey there, are you 18 years or above? Login to verify your age.
Connect with

This will not post anything on Facebook or anywhere else.

© 2017 ScoopWhoop Media Pvt. Ltd
X
X
Advertisement

Mar 18, 2017 at 15:01

Did You Know Louis Vuitton Burns All Its Unsold Bags? The Reason Is Pretty Bizarre

by Shabdita Pareek

The thing about luxury is that not everyone can afford it. 

Louis Vuitton, Chanel, Herm├Ęs might be huge luxury brands, but for a majority of us they're merely fancy, unpronounceable names. We all know how crazy expensive these accessories are and someone like me can't even dream of buying one even if I save my entire month's salary. 

But did you know that every year, Louis Vuitton burns all its unsold bags?

Quite difficult to believe it, isn't it?

Source: lifestyle.beiruting.com

 

The news comes as a rude shock to anyone who hears it first. Why should something be destroyed when you can very well use it for charity or recycle it, right? 

Well, apparently, LV doesn't want to put their bags on a lower price. So, to maintain its exclusivity and avoid selling them on a lower price, they set it on fire! 

Elitist much? 

Source: lifestyle.beiruting.com

 

Another reason given for LV's act is a US law called the 'duty drawback'. As per this law, if something imported in the country after paying a duty on it is destroyed with customs' notification, the duty is paid back.

Now, since LV bags have extremely high duty rates, which is 15-25 percent on an average, it's a great way to make up for the loss of sales. 

Source: lifestyle.beiruting.com

 

Though it seems to be an outrageous move, no one from LV has ever come on record to confirm the news of burning their unsold merchandise. Industry insiders say that before destroying their discontinued bags, LV organizes a sale for its employees.

It's also said that LV does this so that everyone pays the same price for their bags!

Also Read





More From ScoopWhoop

Loading...