ViatoremDiEfa
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- Joined
- Jan 21, 2020
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I recently walk past a Stefano Ricci store, and just had to take a closer look. I have never seen such thick, rich silks. After doing some research about the company, I had a very mixed feeling toward their business practice, of destroying unsold merchandise.
Here is an interesting piece from the WSJ about the practice:
"Every winter the Tuscan workshops of Stefano Ricci, a high-end menswear label, box up the year's unsold products—from cashmere suits and silk ties to finely woven cotton shirts—and send them off on trucks to be burned. Then Stefano Ricci's accountants get to work claiming a tax credit for the operation. " [1]
What do you think? Do such companies even have a place in the current climate? I see no reason why a company will get a tax credit for destroying material that took obscene amounts of resources to have it produced.
[1] https://www.wsj.com/articles/burning-luxury-goods-goes-out-of-style-at-burberry-1536238351
Here is an interesting piece from the WSJ about the practice:
"Every winter the Tuscan workshops of Stefano Ricci, a high-end menswear label, box up the year's unsold products—from cashmere suits and silk ties to finely woven cotton shirts—and send them off on trucks to be burned. Then Stefano Ricci's accountants get to work claiming a tax credit for the operation. " [1]
What do you think? Do such companies even have a place in the current climate? I see no reason why a company will get a tax credit for destroying material that took obscene amounts of resources to have it produced.
[1] https://www.wsj.com/articles/burning-luxury-goods-goes-out-of-style-at-burberry-1536238351
