Tens of thousands of fake Ferragamo products have been destroyed by the Italian fashion company in an anti-piracy campaign focused on China and the internet.
The company said it intercepted and blocked the sale of about 90,000 counterfeit products from online auctions last year and seized and destroyed 10,000 more, the Financial Times reported Friday.
Men’s belts were the most commonly counterfeited item, a spokesperson said.
Leather belts with the distinctive “double Gancini” metal buckle retail for between 250 euros (US$267) and 1,500 euros, although fakes were being offered for a fraction of the cost.
Handbags were the second most copied items, followed by shoes for both men and women.
Together with 1,500 counterfeit products seized by Chinese customs authorities as they left the country, Ferragamo said the total estimated sales value of the goods exceeded US$7 million.
As part of the probe, which has been continuing for “several seasons”, the company increased the number of e-commerce sites it monitors and recovered or cancelled more than 350 domain names and illegal websites in 2014.
“In China, we have also expanded our offline checks, targeting trade fairs and resellers in particular,” said chairman Ferruccio Ferragamo said.
The group attributed its success to increasing cooperation from local and international legislators which it said were becoming aware of the seriousness of the problem and had been “updating legislation to defend the rights of those suffering the effects of piracy and fakes”.
Outside of the courtroom, luxury labels have been reluctant to speak out publicly about the problem of counterfeiting, estimated to cost European brands US$7.5 billion a year, according to the World Customs Organisation.
About 10 per cent of total world trade in the fashion industry is fake, it said.
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