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Aakash kashyap
Building JalSeva and... • 8m
A strategy by Gucci's CEO, who reportedly burned $10 million worth of unsold luxury products to maintain the exclusivity of the brand. 🤯🔥 The decision to burn unsold products was part of Gucci’s broader strategy to protect its brand image. By destroying items rather than selling them at a discount, Gucci aimed to ensure that the exclusivity and luxury appeal of its products remained intact. This tactic reflects a common practice among luxury brands where maintaining scarcity is crucial to preserving their high-value status. Other brands, such as Burberry, have followed similar approaches in the past, destroying unsold stock to avoid undermining their pricing power. Critics have often pointed out the environmental and ethical implications of such moves, as it leads to wastage of valuable resources, though brands justify it as necessary for maintaining brand prestige. Crazy 🔥
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