The apparel & accessories industry has traditionally been very exposed to counterfeiting due to high profit margins.
Today, this industry is still affected by counterfeiting more than any other industry. 10 % of all clothes & accessories sold in Europe are counterfeits.
The global counterfeit market is expected to double within five years from 1.200B$ in 2017 to 2.300B$ in 2022. This massive increase is amongst others due to an increase in quality of counterfeits which is caused by larger criminal network, new technology such as 3D printers, easy access to original labels & packaging etc.
The problem is indisputable and companies need to react in order to reduce the losses caused by counterfeits. Otherwise billions of dollars will be lost and brand value will erode.