Wednesday, 22 September 2010

Frauds At It Again, Another Victory Over Counterfeiters 22/9/10

The frauds have been foiled again! Five London men were charged yesterday, in connection with a global multi-million pound designer good counterfeiting ring. We can’t speak out enough against the damage fakes cause. We know that illegal copies of brands like Gucci, Versace, Ralph Lauren, etc. seem harmless. There’s certainly a strong sentiment out there that these brands can ‘afford it.’ It’s not like ripping off a quaint local label, right? True. Luxury brands work with enormous budgets, and we haven’t seen any go under yet. What is all the fuss about?

Counterfeits are like brand cancer. Mutated, replica bag-cells, are out mixing with the population, causing more destruction that most consumers care to realise. Did you know that annual sales of counterfeit goods total around US$600 billion worldwide? And that this figure accounts for almost 7% of global trade? (These figures do include industries other than luxury goods, by the way). In Australia, counterfeiting robs businesses of over $1 billon AUD a year. Slowly but surely, brand integrity, quality, labour standards, and economic performance are slowly eroded. We’ve spoken extensively about intellectual property and brand degradation, but it’s also important to realise that purchasing fake goods has economic ramifications, too. We are glad to see that those behind this pseudo-industry are being held responsible, and are proud to support the fight against it.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,