Counterfeiting costs the British beauty industry £201 million a year
The EU’s largest intellectual property agency has warned that beauty consumers should be aware of bogus products infiltrating the market.According to the Office for Harmonization in the Internal Market’s (OHIM) latest report for the EU Observatory on Infringement and Intellectual Properly Rights, sales of counterfeit perfume, make-up and personal care products in the EU is costing legitimate manufacturers, retailers and distributors up to £3.4 billion annually, nearly eight per cent of the overall sales in the cosmetics sector.
This beauty imitation game also costs the EU 50,000 job losses in the piracy process.
Related Posts
Legislature could ignite rush to smuggle cigarettes
“Tax ’em if you got ’em.” That could be the motto of the California Legislature –...
Ten arrested in one of biggest gold hauls out of Tribhuvan International Airport.
In what police say is the biggest gold haul in recent decades at Kathmandu’s...
Container Full of 63 lakh Foreign Cigarettes Costing Rs 6.5 cr Seized at JNPT
The Special Intelligence and Investigation Branch seized more than 63 lakh...
DRI seizes 11 kg gold worth over Rs 5 crore, foils smuggling attempt
The Directorate of Revenue Intelligence (DRI) has successfully foiled attempts of...