We all want to own a product from the luxury brands like Chanel, Gucci, and not to mention, Louis Vuitton. But sadly, a lot of us cannot afford them even if we spend our entire month’s salary on them. But you would be astonished to know what happens to these crazy expensive Louis Vuitton unsold bags at the year-end. They’re burned!
The Reason
The reason will leave you dumbfounded and we are pretty sure you will think it is inconsiderate and a tad bit disappointing. The brand does not want to use it for charity or recycle it, and it definitely does not want to put its bags for sale at a lower price. So, they burn them down. It is bizarre, we all agree.
The other assumed reason for Louis Vuitton’s act is a US law which is called the “duty drawback”. This law states that if the imported product, after paying duty in the country, is destroyed with customized notifications, then the duty is considered to be paid back. Louis Vuitton bags have very high duty rates, and it is 15-25 percent on average. So, they burn these bags to make up for their loss of sales.
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Are The Rumors True?
There is not any solid proof backing this rumor, but the industry insiders believe that these stories are true. These insiders also believe that Louis Vuitton also holds a sale for its employees before burning these bags.
As absurd as the rumor sounds, given the reputation Louis Vuitton has, we will not be surprised if these rumors were true, as Louis Vuitton is known for its elitist approach towards everything and that definitely adds up to its brand value.
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