On June 6th, the 22nd World Anti-Counterfeiting Day was celebrated, and the LVMH Luxury Group was honored for its dedication to this cause. Specifically, the LVMH “Market Protection” team received the Best Business Team award for their remarkable efforts in combating counterfeiting and achieving tangible results.
Toni Belloni, Deputy Chief Executive Officer of LVMH, expressed pride in receiving this distinction and acknowledged the hard work of the Market Protection department. He emphasized the department’s vital role in safeguarding the company’s expertise and creativity while consistently providing the best products and experiences to customers. Belloni also mentioned that the award serves as motivation to continue the fight against counterfeiting and explore innovative approaches to address this global issue.
During the World Anti-Counterfeiting Day, the European Union Intellectual Property Office (EUIPO) shared its latest findings, shedding light on the substantial impact of counterfeiting in the EU. It is estimated that counterfeiting costs the 11 most affected sectors in the EU over 60 billion euros annually. The “Clothing-Shoes-Accessories” category experiences the highest losses, amounting to nearly 28.4 billion euros per year. The “Pharmaceutical Products” sector follows with 9.6 billion euros in losses, while the “Cosmetics and Care” sector experiences a growing figure of 7.1 billion euros. In France alone, the estimated impact is around 7 billion euros.
The Union des Fabricants (UNIFAB) raised concerns about the increasing presence of counterfeit goods in the online market. Counterfeiting is infiltrating various internet distribution networks, including platforms, social networks, marketplaces, and sites for reselling second-hand products, according to the organization’s warning.
These activities have significant consequences for employment. In Europe, approximately 468,000 jobs are affected due to the decline in turnover directly caused by counterfeiting. The fight against counterfeiting is therefore crucial for luxury brands and the broader industry. Sustained efforts are necessary to protect intellectual property rights, preserve creativity and expertise, and ensure a fair and transparent marketplace for consumers.
Useful links:
1. European Union Intellectual Property Office (EUIPO)
2. Union des Fabricants (UNIFAB)
