Swiss Watch Industry is the Most Affected by Counterfeit Products

by swisscham in General Interest

A recent OECD report put watches at the top of the list of the worldÕs most pirated products. We take a look at the impact of fake watches on the Swiss watch industry with the help of Jean-Daniel Pasche, President of the Federation of the Swiss Watch Industry. The report values the world trade in counterfeit goods at USD 461 billion (2.5% of total world trade) for 2013 based on customs seizure statistics. Unsurprisingly, China and Hong Kong are Ð by far Ð the biggest geographical sources of these counterfeit goods. Footwear is the biggest product category found in the goods seized, which probably explains why brands such as Salvatore Ferragamo are now fitting RFID chips to their shoes that can be used to confirm their authenticity.

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