France Moves To Ban The Destruction Of Unsold Luxury Goods In Favor Of Recycling [Forbes]
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Source: Forbes
France Moves To Ban The Destruction Of Unsold Luxury Goods In Favor Of Recycling Row of clothes on a hanger in a closet room. Getty The French government announced an end to the destruction of unsold non-food stock earlier this week, calling time on a practice that is common in the luxury retail sector. More than $730 million of returns and unsold inventory are routinely thrown away or destroyed by consumer goods retailers in France, and the practice is widespread in the luxury sector in an effort to maintain label exclusivity. The current value of goods thrown away or destroyed is five times more than those given away. “A shocking practice” In a statement on Tuesday, the French Prime Minister Edouard Philippe outlined plans for a ban that would come into force by 2023, outlawing the destruction of non-food goods including the clothing, accessories, and cosmetics that are mainstays of the luxury industry. Once in force, the plan would see manufacturers obliged to turn the stock over f
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