Counterfeit products cost the European Union 60 billion euro in turnover, which is over 7 % of the total turnover of the sectors concerned. Moreover, the counterfeiting costs Europeans almost half a million jobs.
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Italian fashion brand Diesel has found a playful way to combat counterfeit brands. It opened a boutique in New York that sells “counterfeit” clothing called Deisel.
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French luxury group Kering has decided to drop a case against Chinese Alibaba regarding the sale of counterfeit items. Both companies will now join forces to combat counterfeit sales.
Thirty traders are no longer allowed to operate on Amazon until their court case with fashion brand Louis Vuitton is still ongoing. The brand filed a lawsuit because those thirty traders sold counterfeit items.
There has been a huge increase in counterfeit sales because of the increased popularity of online shopping. Europol considers the copying of well-known brands to be a structural problem.
Chinese online giant Alibaba has joined forces with several major brands, including Swarovski, Louis Vuitton and Samsung, in an attempt to curb counterfeit sales.
The American government has put Taobao.com, Alibaba's online marketplace, back on its black list because it still sells counterfeit items. Alibaba says it is doing everything it can to prevent these sales, but apparently that is not enough.
Chinese online giant Alibaba's founder, Jack Ma, will no longer be present at the International Anticounterfeiting Coalition's conference (IACC). He was supposed to give the keynote speech, but decided to call it off.
According to the OECD (Organization for Economic Development and Co-operation) and the European Intellectual Property Office, the worldwide trade in fake goods is now worth more than 400 billion euro.