Fakes are Never in Fashion

Fakes are never in fashion

By: Marija Pejkovic

Valerie Salembier, Publisher of Harpers Bazaar “ If the woman who lives in Des Moines or the woman that lives on East 85th street knew where her money was going when she bought a fake, you could be sure that she wouldn’t be buying a fake again.”

Counterfeit Goods in Fashion 

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Background of counterfeit goods How to avoid the purchase of a fake Spotting fakes Awareness

Background 

Imitations  Currency  Documents  Art  Software  Pharmaceuticals  Watches  Electronics  Clothing

Background Continued 

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Over 50% of seized Counterfeit goods in the U.S. are apparel and accessories.

5-7% of World Trade revolves around counterfeit products.

3rd World Countries  Weaker

labor laws/regulations  Directly selling to the consumer 

Desire to reproduce counterfeit goods at a low cost

Trends in Counterfeiting 

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China-Counterfeit Capital of the World 8% of Chinas GDP is accounted for by counterfeit goods Different features Different from the brands authentic product  Prominent and fake brand names  Logotypes 

Biggest Markets

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New York City Mexico City Rome Hong Kong

Avoiding the Purchase of a Fake: Interesting Facts 

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An estimated $600 Billion in annual sales of counterfeit products are sold worldwide. $512 Billion of global sales are lost to counterfeit products. $20 Billion is estimated to be lost by American companies for counterfeit products. $1 Billion is lost in New York City in tax revenues because of counterfeiting.

750,000 jobs are lost due to intellectual property theft in the United States alone.

Out of all the goods produced in the world, 10% of them are counterfeit goods.

Cons of Buying Counterfeit Goods  

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Organized crime Terrorists are funded by counterfeit goods Support of illegal drugs and the use of them.

Child labor in third world countries Prostitution Tax Avoidance

Benefits of not Buying Counterfeit Goods  

Image and Reputation Authentic handbags have specific serial numbers and holograms

How to Spot a Fake: Fake Vs. Authentic 

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Location: Flea Market Vs. Brand’s Boutique Price: Cheap Vs. Expensive Construction: Sloppy Stitches Vs. Logos on Metal Pieces Packaging: Plastic Wrap Vs. Authenticity Cards Spelling: Misspelling of Designers Brand Vs. No Spelling Errors Labels: Hangtags that don’t Represent the Product Vs. Stitched in tags with Proper Country of Origin

Awareness  

Summits Authentic Foundation  www.myauthentics.com

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International Anticounterfeiting Coalition  www.iacc.org