To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value than the real thing. Counterfeit products are fakes or unauthorized replicas of the real product. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product. The word counterfeit frequently describes both the forgeries of currency and documents as well as the imitations of items such as clothing, handbags, shoes, pharmaceuticals, automobile parts, unapproved aircraft parts, watches, electronics and electronic parts, software, works of art, toys, and movies.
Chanel is a French luxury fashion house founded in 1910 by Coco Chanel in Paris. It is privately owned by the Wertheimer family and has been headquartered in London since 2018.
Guccio Gucci S.p.A., doing business as Gucci, is an Italian luxury fashion house based in Florence, Italy. Its product lines include handbags, ready-to-wear, footwear, accessories, and home decoration; and it licenses its name and branding to Coty for fragrance and cosmetics under the name Gucci Beauty.
Bernard Jean Étienne Arnault is a French businessman, investor and art collector. He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company. Arnault is the richest person in the world, with an estimated net worth of US$233 billion as of April 2024, according to Forbes.
Consignment is a process whereby a person gives permission to another party to take care of their property and retains full ownership of the property until the item is sold to the final buyer. It is generally done during auctions, shipping, goods transfer, or putting something up for sale in a consignment store. The owner of the goods pays the third-party a portion of the sale for facilitating the sale. Consignors maintain the rights to their property until the item is sold or abandoned. Many consignment shops and online consignment platforms have a set time limit at which an item's availability for sale expires. Within the time of contract, reductions of the price are common to promote the sale of the item, but vary by the type of item sold.
Vintage clothing is a generic term for garments originating from a previous era, as recent as the 1990s. The term can also be applied in reference to second-hand retail outlets, e.g. in vintage clothing store. While the concept originated during World War I as a response to textile shortages, vintage dressing encompasses choosing accessories, mixing vintage garments with new, as well as creating an ensemble of various styles and periods. Vintage clothes typically sell at low prices for high-end name brands.
Newegg Commerce, Inc., is an American online retailer of items including computer hardware and consumer electronics. It is based in City of Industry, California. It is majority-owned by Liaison Interactive, a multinational technology company.
A counterfeit watch is an unauthorised copy of an authentic watch. High-end luxury watches such as Rolex, Patek Philippe and Richard Mille are frequently counterfeited and sold on city streets and online. With technological advancements, many non-luxury and inexpensive quartz watches are also commonly counterfeited.
François-Henri Pinault is a French businessman, the chairman and CEO of Kering since 2005, and president of Groupe Artémis since 2003. Under his leadership, the retail conglomerate PPR was transformed into the luxury fashion group Kering.
Neiman Marcus Group, Inc. is an American integrated luxury retailer headquartered in Dallas, Texas, which owns Neiman Marcus, Bergdorf Goodman, Horchow, and Last Call. Since September 2021, Neiman Marcus Group has been owned by a group of investment companies led by Davidson Kempner Capital Management, Sixth Street Partners and Pacific Investment Management.
Counterfeit consumer goods—or counterfeit, fraudulent, and suspect items (CFSI)—are goods, often of inferior quality, made or sold under another's brand name without the brand owner's authorization. The colloquial terms knockoff or dupe (duplicate) are often used interchangeably with counterfeit, although their legal meanings are not identical.
Julie L. Wainwright is an e-commerce entrepreneur. She is the founder and the former CEO of The RealReal, an online marketplace for authenticated luxury consignment.
Brand protection is the process and set of actions that a right holder undertakes to prevent third parties from using its intellectual property without permission, as this may cause loss of revenue and, usually more importantly, destroys brand equity, reputation and trust. Brand protection seeks primarily to ensure that trademarks, patents, and copyrights are respected, though other intellectual property rights such as industrial design rights or trade dress can be involved. Counterfeiting is the umbrella term to designate infringements to intellectual property, with the exception of the term piracy which is sometimes (colloquially) used to refer to copyright infringement.
Bay Garnett is a British freelance fashion stylist, author, editor, creative director and advocate for sustainability in fashion.
Twice was an online marketplace for buying and selling secondhand apparel based in San Francisco, CA. The e-commerce platform was created to make selling used goods easier and shopping used like buying new. Twice manages the selling process for the customer, such as pricing, shipping and merchandising. Twice vets each item to ensure it meets “like new” standards. The company currently buys and sells men's and women's clothing as well as women’s shoes and handbags from popular retailers and brands.
Marco Bizzarri is an Italian business executive, president and CEO of Gucci since January 2015 till December 2023. He previously was president and CEO of Stella McCartney (2005–2009) and Bottega Veneta (2009–2014), and joined Kering's executive committee in 2012.
The Major League Baseball Authentication Program, or MLB Authentication Program, is a program run by Major League Baseball Properties, the product licensing arm of Major League Baseball, to guarantee the authenticity of baseball merchandise and memorabilia. The centerpiece of the system is a tamper-resistant security tape sticker with an embedded hologram. Each sticker carries a unique alphanumeric code. The sticker is affixed to all game-used merchandise and memorabilia, while information about the item is entered into a computer database. Between 500,000 and 600,000 items are authenticated each season.
Daniel R. Day, known as Dapper Dan, is an American fashion designer and haberdasher from Harlem, New York. His store, Dapper Dan's Boutique, operated from 1982 to 1992 and is most associated with introducing high fashion to hip hop culture; its clientele includes Mike Tyson, Eric B. & Rakim, Salt-N-Pepa, LL Cool J, and Jay-Z. In 2017, he launched a fashion line with Gucci, with whom he opened a second store and atelier, Dapper Dan's of Harlem, in 2018.
Rebag is a New York-based online and brick-and-mortar retail platform, founded in 2014, for buying, trading, and selling luxury handbags, accessories, watches, fine jewelry, shoes, and select apparel.
The COVID-19 pandemic affects the global fashion industry as governments close down manufacturing plants, and through store closures, and event cancellations to attempt to slow the spread of the virus. The COVID-19 pandemic has had a major impact on fashion brands worldwide. At the same time, the fashion industry faces challenges in consumer demand. New opportunities are also presenting themselves as fashion brands shift to making fashionable COVID-19 face masks. Domenico de Sole, chairman of Tom Ford International, remarked that "I have seen a lot of difficult situations in my long career and this has been the most devastating event, not just for fashion and luxury, but all industries."
$603 Million(2022) [1]