‘It’s almost seen as a hack’These tactics are all part of the industry’s hope to neutralize the booming counterfeit market, with some estimates asserting that fake fashion and luxury items account for 60% or more of the multi-trillion-dollar trade in fake goods.
Sympathy for brands “can be hard for consumers in general, particularly those who are deeply steeped in TikTok culture,” Scafidi said.
According to Business of Fashion, the average price for a women’s designer handbag in the US spiked 27% from 2019 to 2022.
Last year saw record-breaking profits for the luxury sector, with around 95% of brands seeing growth, according to an estimate by consulting firm Bain & Company.
“Right now, vintage is on trend, and we actually see new replicas of vintage items — items that were made in the ’80s or ’90s,” Thompson said.
Persons:
Louis Vuitton, Cartier, Birkin, Miu Miu, Chanel, ”, Simon Lock, LVMH, Maison, OTB, ‘ It’s, dupes, Counterfeiters, Sarah Davis, “ it’s, what’s, Susan Scafidi, “, Leah Abucayan, ” Scafidi, Fashionphile, Davis, Hunter Thompson, “ It’s, ” Thompson, ” Davis, Scafidi, Romain Carrere, “ We’re, ” Carrere, it’s
Organizations:
CNN, luxe, Ordre Group, Burberry, Prada Group, Dior, Prada, YouTube, Social, Fashion Law, Business of Fashion, Bain & Company, Technology, Blockchain
Locations:
Fashionphile, Europe, —