š Alarming Impact on Clothing Industry
The clothing sector suffers the most, losing approximately EUR 12B yearly, equating to 5.2% of total turnover. This massive loss affects not only sales but also the livelihoods of workers, with an estimated 160K job reductions.
š Cosmetics and Toys Not Spared
Cosmetics and toys industries face substantial hits too. The cosmetics sector incurs losses of EUR 3B (4.8% of sales), while the toy industry loses around EUR 1B (8.7% of sales), demonstrating the widespread effects of counterfeit goods.
š Geographical Hotspots of Losses
Germany, France, Italy, Spain, and Austria bear the brunt of these losses, collectively facing nearly ā¬8B in diminished sales. This indicates a significant impact on major EU economies.
ā ļø Health, Safety, and Environmental Concerns
Counterfeits don't just hit the economy; they also pose health and safety risks, particularly in cosmetics and toys. Around 15% of seized counterfeit goods at EU borders are harmful products, underlining the critical issue of consumer safety.
š¤ EU's Holistic Counter-Measures
The EUIPO, along with EUROPOL, OLAF, and the European Commission, adopts a comprehensive approach to combat counterfeiting. This includes clamping down on IP crimes and addressing their links to other criminal activities.
What are your thoughts on the EU's efforts to tackle the counterfeit goods problem?
