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Thousands of counterfeit products destroyed by Thai authorities
Glasses, watches, jewellery, handbags, luggage, T-shirts, shoes and even agricultural machinery or electric batteries, many counterfeit objects were on display, before being destroyed at a ceremony organized by Thailand’s Department of Intellectual Property.
Thai authorities have destroyed counterfeit goods worth over $16 million in a ceremony in Bangkok. The items, including fake Rolex watches, Louis Vuitton handbags, and cosmetics, were crushed and shredded to demonstrate the country’s strong intellectual property system. The event aimed to build confidence in Thailand’s commitment to combating counterfeit culture.
Various counterfeits items also bore the names of French luxury brands: Christian Dior, Louis Vuitton and Chanel.
The fake market, estimated worldwide at 464 billion dollars, spares no sector (luxury, industry, food, pharmaceutical, robotics …).
It is estimated that the European economy loses €83 billion in sales each year, with the indirect effect of losing 670,000 jobs and an estimated €15 billion in taxes and social security contributions.
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