Counterfeiters Robbing Industry Blind

"Counterfeit eyewear goods are taking a heavy toll on manufacturers' revenues, and the problem looks likely to escalate, says a new report." That's the word from Securing Industry. "The eyewear market overall is set for buoyant growth between 2015 and 2019, with a compound annual growth rate of more than 7 per cent over the period by value and 3.5% by volume, but the availability of counterfeits presents "a big market challenge," says report publisher Technavio.'Sunglasses and contact lenses are the most affected product categories by counterfeiting in the eyewear market,' Technavio analyst Arushi Thakur told SecuringIndustry.com, adding: 'Ray-ban, Gucci, Dolce & Gabbana, Louis Vuitton and Versace are some of the brands most affected by counterfeiting.' While the impact of this activity is hard to gauge, the report suggests that on average, manufacturers lose between 15 and 20 per cent of their market revenues annually due to fake products, according to Thakur." Read more.