Many popular retailers depend on brand recognition to increase sales but at the same time, forgers also utilise brand names to make counterfeits in their names.
Forgers use logos and trademarks of companies like Nike or Michael Kors to sell duplicate products to the public. U.S customs officials recently seized more than 9,000 fake Nike sneakers worth nearly $1.7 million in a shipment from China bound for the U.S.
Nike said in a statement to FOX Business that Nike aggressively protects its brand image, its retailers and its consumers against duplication across the world. The company further said that they would recommend to consumers who want to buy genuine Nike product should go to a recognized retailer or an official Nike store.
The U.S Customs and Border Protection officers confiscated more than 34,000 duplicate products worth $1.2 billion in fiscal 2017 alone. The anti-counterfeiting move lead to arrest and indictments. The total amounted of confiscated fake goods was worth $3.3 million.