Counterfeit Trade Still Worth Billions

Fake bags and shoes worth more than €320 billion were sold last year, a report by the Organisation for Economic Cooperation and Development and the European Union's Intellectual Property Office has estimated. The counterfeit goods largely originated from China - with around 63 per cent of global seizures stemming from the mainland as well as Hong Kong, WWD reports - with Turkey, Singapore, Thailand and India each making up between one and three per cent.

So which brands are falling foul of the fakers? Although specific names were not supplied, American labels made up around 20 per cent of all fakes seized, followed by Italian and French brands - at 14 and 12 per cent respectively. The most frequently seized items are no surprise, with footwear, clothing and leather goods making up the lion's share of the fakes traded.

The report estimated that up to five per cent of all items imported into the EU in 2013 were counterfeit, representing a value of over €85 billion.

The trade continues despite several major luxury conglomerates - including Kering and LVMH - having taken a tough stand against counterfeiters; even initiating lawsuits against online platforms like eBay for being slow to stamp out the sale of fake goods through their portals.