Louis Vuitton most counterfeited luxury brand: Entrupy report
Louis Vuitton is the most counterfeited luxury brand, according to the new 'State of the Fake' report from Entrupy, which found the brand accounted for 32.76 per cent of all its submissions for luxury goods.
It was followed by Gucci (13.6 per cent), Chanel (13.4 per cent), Prada (9.8 per cent) and Dior (4.6 per cent).
Prada was the second most counterfeited luxury brand regarding handbags, with 14.42 per cent of all Prada bags scanned by Entrupy being flagged as 'unidentified', i.e., a fake.
Louis Vuitton is the most counterfeited luxury brand, said a report from Entrupy, which found the brand accounted for 32.76 per cent of all its luxury goods submissions. There is a growing sophistication in counterfeits, especially across high-volume and high-demand items. China and Hong Kong still dominate supply, with 3 per cent of counterfeit purchases being enabled by chatbots.
Fake Gucci handbags worth $12,190,340 were submitted to the US-based artificial intelligence (AI)-powered authentication technology provider for verification in 2024, with Chanel accounting for the highest total dollar value with a total of $500,470,067 in counterfeit goods detected.
The data shows a growing sophistication in counterfeits, especially across high-volume and high-demand items.
French brand Goyard maintained its position as one of the most counterfeited brands by volume, with 18.4 per cent of its St. Louis Totes identified as fakes.
The top five brands with an elevated risk of fakes were Goyard, Prada, Givenchy, Loewe and Saint Laurent.
The Americas accounted for 47 per cent of all Entrupy submissions, with the Asia-Pacific accounting for 42 per cent and Europe and the Middle East accounting for 11 per cent.
The report also named Louis Vuitton as the most frequently counterfeited brand in the United States, with the total value of authentic products verified by Entrupy reaching $640 million, compared to $61 million worth of 'unidentified' items. It is the most frequently counterfeited brand in Canada, Mexico, Taiwan, the United Kingdom, Germany and Indonesia as well.
Prada was the most faked brand in Japan, while Saint Laurent was the most faked brand in Italy.
Counterfeits now use block chain and cryptocurrency to hide operations and reinvest profits through legitimate businesses, the report noted.
China and Hong Kong still dominate supply. Over 30 per cent of counterfeit goods seized at European borders originated from China and Hong Kong.
Three per cent of counterfeit purchases are now enabled by chatbots.
Fibre2Fashion News Desk (DS)
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