Fakes are costing Europe’s fashion industry
It’s exceedingly easy to buy knock-offs of European luxury brands. They’re so common people hardly pay them any mind. But their prevalence is actually a major problem, and it’s undermining Europe’s fashion industry.Counterfeits cost European brands the value of 9.7% of their total sales every year, or a staggering €26.3 billion ($28.7 billion), according to a new report by Europe’s Office for Harmonization in the Internal Market (OHIM). Those lost sales ripple outward, resulting in approximately 363,000 lost jobs across the manufacturing, retail, and wholesale sectors of Europe’s fashion industries.
Related Posts
Solon seeks congressional probe on cigarette smuggling in PHL
A lawmaker has asked Congress to investigate the illicit trade of cigarettes in...
Guns earlier, now gold smuggled from Myanmar is worrying India.
"Gold is the biggest contraband from Myanmar," T Bijando Singh, superintendent of...
Kenya’s Anti-Counterfeit Authority tells the difference between illicit trade and counterfeits
Between November last year and June this year, the Anti-Counterfeit Authority...
UK High Court orders ISPs to block trademark-infringing sites
A landmark ruling has been handed down in the UK that establishes the right of...