1 minute read
Stop faking it!
Counterfeit products lack the quality, research, development and rigorous safety testing brand owners have invested in their products. Because they are fake, they’re sold at prices muchless than original brand versions.
Imitation cosmetics and counterfeit pharmaceuticals can be found through a variety of channels worldwide, including unauthorised internet sites, flea markets, street vendors and individuals. Consumers may easily encounter a counterfeit product that appears genuine yet it’s not.
A global problem
Between January 2004 and September2017, close to 12 000 cases related to counterfeit cosmetics alone were reported to the FDA’s Adverse Event Reporting System. While most events resulted in short lived symptoms that ranged from eye infections or allergic reactions, 18 cases resulted in death.
Researching the growing global problem of counterfeiting, Duane Morris Law firm wrote on its blog Counterfeit Cosmetics: Fake Beauty, Real Danger: ‘the damage caused by counterfeit products is substantial. By misappropriating valuable trademarks, counterfeiters deprive brand owners of the revenue to which they are entitled after years, and often billions of dollars spent on product research and development. Counterfeits also diminish the goodwill associated with trusted brands, by making substantially cheaper versions available for purchase from unauthorised dealers via ‘black’ or ‘grey’ markets’. As a result, pharma and cosmetics companies are organising more anti-counterfeit programmes and are investing more in these efforts than ever before.
Estée Lauder Companies employs 42 full-time security agents worldwide to infiltrate markets, make test purchases and coordinate with regional law enforcement to root out counterfeiters. L’Oréal, which owns prestige brands like Yves Saint Laurent and Urban Decay, sued eBay in five European countries after eBay failed to satisfy its concerns over counterfeit sales.
Union Swiss, the brand owner of Bio- Oil, has implemented serialisation and track and trace on Bio-Oil cartons to fight counterfeiting of the brand. A unique multi-digit number is printed onto each carton to be used for track and trace as well as product authenticity.
