NEW YORK, July 29 — If there’s one sector that doesn’t seem to be struggling, it’s the market for counterfeit goods. It owes this robust economic health to the luxury sector, copying designer creations and selling fake versions at lower prices. Brands such as Louis Vuitton and Gucci are among the most sought-after names among consumers looking for fake products. looked at the most popular brands among consumers of counterfeit goods.
And that’s perhaps not surprising, given the high price of the genuine Swiss timepieces, ranging from around €5,000 for entry-level models to several tens of thousands of euros for collector pieces that are sometimes over 20 years old. Last year, a Daytona Paul Newman model in yellow gold sold for 663,000 Swiss francs at Christie’s.
Louis Vuitton and Gucci also feature among the brands whose counterfeits are the most popular online, with 118,800 and 87,600 searches respectively. The rapper Kanye West’s Yeezy brand of is also coveted by fashion fans who aren’t too bothered about the authenticity of the items they wear .. Once considered the height of uncool, these colorful shoes have made their way into the wardrobes of millions of consumers.
While some brands fall victim to counterfeiting more often than others, the same is true of specific products. For example, fake Gucci belts and sneakers generate the most searches online, followed by Kanye West’s Yeezy Boost 350 sneakers. from the Organisation for Economic Co-operation and Development on the trade in counterfeit goods. This fraudulent market now represents 3.3 per cent of world trade, and is dominated by shoes and clothing.
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