A recent report has shown that selling counterfeit fashion on social media is rapidly growing every year.
The Global Brand Counterfeiting Report 2018 deeply analyses the size, mode, trade routes and issues underlying counterfeiting of high end consumer goods majorly Clothing, Textile, Footwear, Cosmetics, handbags, and Watches.
The estimated losses due to counterfeiting of high end consumer goods amounted to $98 Billion which includes counterfeiting from offline as well as online mediums.
The report stated that nearly 20 % of posts about fashion products on Instagram feature counterfeit products.
As we mark World Anti-Counterfeit Day we looked at this growing industry and what its implications are for retailers.
Spoor & Fisher Intellectual property and copyright experts Paul Ramara said, “The explosion of the e-commerce has posed serious challenges, if you look at it globally the value of counterfeit goods that are being sold are over $1.3 Trillion …”
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