Counterfeit Watches Costing U.S. Businesses Billions
With all of the numerous recent raids and lawsuits surrounding counterfeit watches, it's no secret that counterfeiters have become a very serious problem. However... a recent analysis by NetNames, a worldwide organization specializing in online brand protection and anti-counterfeiting services, has revealed how much it is costing the econom... and the amount is incredibly enormous. According to the firm, the U.S. loses $225 billion dollars a year from counterfeiters. This includes all counterfeit goods, but watches such as replica Rolex, clone Breitling, fake Patek Philippe, replica Hublot, replica Audemars Piguet, etc... are some of the most prevalent products being counterfeited.
In an interview with WWD, Stuart Fuller of NetNames called the problem a "global pandemic." Fuller stated that the boom in online shopping has created many more opportunities for the unlawful, counterfeiit goods, which as a market brings in $1.8 trillion globally. In the year 2014 online counterfeit watch sales increased over 15%t, and it is (of course) only expected to keep growing. Replica watches such as Rolex, Breitling, Movado, Omega, TAG Heuer, etc. are illegal. Possessing, buying, selling, and/or manufacturing watches bearing unauthorized trademarks is a Felony under U.S. Law.