Every year, European fashion retailers lose revenue of over twelve billion euros for clothing and a further 2.7 billion euros for jewelry and handbags due to product plagiarism. This emerges from an investigation by the European Union Intellectual Property Office (EUIPO), which is responsible for protecting intellectual property.
The EUIPO finds that consumers are willing to pay more for “design-oriented” products such as fashion, furniture and electronics. The added value lies in the design, which makes design-intensive markets vulnerable to counterfeits.
Social media makes it easier for cheap imitations to reach the mainstream. According to the EUIPO study, more than a tenth of those surveyed said they had knowingly bought counterfeits. For Generation Z under the age of 24, it is even more than a quarter.
Around 28 million citizens in the EU work in design-intensive industries and thus generate 16 percent of the gross domestic product. The EUIPO therefore urgently advises companies to have their designs officially registered. Registering a simple product costs 350 euros. The rights apply in all Member States and can be renewed every five years up to a maximum period of 25 years.
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