You Won't Believe How Much Money Fake Fashion Costs (Hint: Billions)



There is nothing cheap about the ongoing saga of counterfeit fashion. The demand for designer fashion at an impossibly low price, regardless of the origin (however dubious) has caused the loss of nearly 400,000 jobs in the fashion industry and at least £5 billion in revenue over the last 20 years, according to the World Customs Organization.

And it's not just the luxury brands that suffer, but popular mid-market brands too. Case in point: Fred Perry recently settled a dispute with the e-tailer firm The Hut Group over the sale of counterfeit merchandise on their websites.

To us, one of the most surprising facts here is that this shady business is a black-market industry on the rise. It was reported to have grown by up to 15% between 2010 and 2011. Such a shame, as there are so many legitimate ways to buy the real deal at an affordable price. The blossoming of online designer consignment stores attests to that — and even if you don’t want to buy second-hand, there are always the previous-season fashion businesses like Yoox and The Outnet. So, what's the excuse for everyone still buying knock-offs? (Drapers)

counterfeit Photo: Via The Independent