Fakes are costing Europe’s fashion industry 10% of its sales and thousands of jobs

It’s exceedingly easy to buy knock-offs of European luxury brands. They’re so common people hardly pay them any mind. But their prevalence is actually a major problem, and it’s undermining Europe’s fashion industry.

Counterfeits cost European brands the value of 9.7% of their total sales every year, or a staggering €26.3 billion ($28.7 billion), according to a new report by Europe’s Office for Harmonization in the Internal Market (OHIM). Those lost sales ripple outward,...

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