Global Counterfeit Trade Damages Made in Italy

MILAN — The impact of trade in fake Italian products is still strong and significantly hitting the country’s economy. According to two reports issued by the Organization for Economic Cooperation and Development, or OECD, and Indicam, Italy’s institute fighting against counterfeiting for the protection of intellectual property rights, the value of counterfeit and pirated Italian goods sold worldwide in 2016 totaled 32 billion euros, equivalent to 3.6 percent of global Italian manufacturing sales. The OECD study “Trade in Counterfeit Goods and the Italian Economy: Protecting Italy’s Intellectual Property” was issued in August and presented during a conference held Monday at the headquarters of the Lombardy region here to raise awareness of the issue among high school students. Weighing in on the impact of counterfeit trade in Italy, the research underscored fake imports were worth 12.4 billion euros in 2016 and included mostly ICT products, leather goods, handbags, toys and apparel, translating into 7.9 billion euros of lost sales for the country’s wholesalers and retailers, equivalent to 3.8 percent of total sales that year. In terms of market shares, the biggest losses were registered in the watch and jewelry category, which reportedly lost 16.7 percent in sales. The counterfeit trade also hit the apparel, footwear

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