Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand. It takes the total value of goods it has destroyed ...

When Christopher Bailey arrived at Burberry back in 2001, he joined a brand that had mass appeal ... and drawing the world's biggest names to experience it all on the front row.

as its chief executive earlier this year in a bid to revive its brand. Burberry has been among the hardest hit by a downturn in luxury spending in recent months.

“Our positioning is today and will remain tomorrow in the luxury space. We have no plans to make Burberry an accessible luxury brand,” he said in a call after results.

Burberry BRBY13.92%increase; green up pointing triangle said it is taking steps to cut costs and reduce inventory as part of a new strategic plan that seeks to turn around its brand.