A BBC documentary on the dangers of fake bike parts highlighted how a mountain biker named Matt Phillips had to suffer a serious accident while practising the sport when his fake carbon bike part broke down. The counterfeit part was of an Italian company which manufactures sports bicycle parts. The company later came to know that there were around 2000 fake listings of its products on the internet.
Counterfeiting in the sports industry is rampant. Besides the monetary loss, counterfeiting in sports goods industry leads to a loss in taxes and loss of jobs. Moreover, counterfeit sports equipment can cause life-changing injuries. With the growth of online business cheap quality replicas of famous sports items are being sold in large numbers. According to a study conducted by European Union Intellectual Property Office, around 6.5% of sales are lost due to counterfeiting of sports goods. Duplication of sports goods leads to a revenue loss of 500 million euros per annum in the European Union.
Most counterfeited sports goods are cheap replicas of original goods. They look quite similar, have the same branding and the packaging. It has been generally found that fake sports items are made with substandard raw materials. This brings down the cost of production which is quite low compared to the original or legitimate product.
Original sports goods manufacturers invest a lot of time and money on innovation and procuring new technology. Duplication ruins all the efforts of the manufacturer. Counterfeit sports goods are often manufactured in little backyard workshops and factories which may be infected with all kinds of bacteria. This can pose a risk to consumers as they may catch different kinds of infections. Different kinds of sports protective gear like helmets, knee guards, jockstrap, shoulder pad, mouthguard, gloves and others can fail most of the times in protecting a consumer for injury if they are fake.
Last but not the least counterfeit fake items also lead to a loss of taxes to the government. While legitimate manufacturers pay different types of taxes dubious manufacturers evade a large amount of taxes and hamper subsequent economic growth.
There has also been a rising trend of duplication of sports apparels which includes t-shirts, track pants, shorts, caps, sports socks, sports undergarments and much more. We can easily spot people wearing different brands of fake sports apparels available in street shops and flea markets. Genuine sportswear is only available at franchise stores and official websites. In a nutshell, sports goods industry suffers huge losses every year.
With advanced anti-counterfeiting solutions, sports goods manufacturers can secure their products from duplication. This will not only protect their brand value but will also create strong consumer trust. Holostik is a pioneer and leader in different kinds of anti-counterfeiting solutions. The cutting-edge anti-duplication products and solutions provided by Holostik have numerous security features. These are impossible to be copied by the latest machines and thus provide a seal of genuineness to the product.