Fake handbags and suitcases cause 1.6 billion euros damages each year in the EU

It is estimated that the industry loses approximately 1.6 billion euros revenue each year due to the presence of counterfeit handbags and luggage in the EU marketplace, corresponding to 12.7 percent of the sector’s sales.

These lost sales translate into direct employment losses of approximately 12,100 jobs. This figure does not take account of the effect of imports, since in those cases the associated employment impacts occur outside of the European Union. Estimated employment losses in the EU therefore relate to goods produced and consumed within the EU. (MTI)