Counterfeiting Industry Essay

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Name: Ho Thi Thao Vy Lecturer: James Wold Research Question: How can people prevent the risk of counterfeiting in the fashion industry? Have you think about the products which you have bought are counterfeit or authentic? Have you think that counterfeiting products can lead to what effects? Study from Elings, the value of counterfeit market occupies about 5% and 7% of global trade, or between 500 billion USD and 600 billion USD. Counterfeiting cloth is one of the popular issues around the world. From 2005 to 2007, the counterfeiting increased at 6.6% which is more than double the speed of total fashion industry growth (Counterfeit clothing a growing problem, 2008). In fact, it is legal when people buy fake goods, but making and selling counterfeiting products is illegal, and people can be punished if they are flamed out. Many people buy counterfeiting products because of cheaper price; however, most of them do not think, even they do not care about the impacts. Counterfeit can affects the economy and people’s life in many different ways. This essay will discover the problems of counterfeiting and also recommend solutions for this issue. First of all, consumers who buy the counterfeiting clothes can waste a lot of money rather than the authentic buyers. To explain, although on the surface, fake clothes are nearly the same as the authentic, the quality is completely different. In fact, counterfeiting products cannot use for a long time as the advertising. According to the article ‘Counterfeit clothing a growing problem’ (2008), ‘alarmingly, counterfeit buyers are actually spending more than the genuine product buyers because they are purchasing more’. Some people do not have a big amount of money to buy the genuine clothes, so they often enjoy buying the counterfeiting. However, the fake goods are broken down easily, while authentic buyers can use the products for

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