Turkey’s trade in counterfeit goods booms, fuelled by falling lira

Value of country’s fakes tripled from 2019 to 2020 as it became main source of counterfeit designer clothes stopped at EU bordersPhotos of fake Gucci bags, Louis Vuitton sweatpants and Nike sneakers are flaunted on the social media accounts of a Turkish store with more than 155,000 followers on TikTok. There are thousands of comments under the posts in English, Italian, Bulgarian, Polish, German, Spanish and French.Turkey is the third biggest exporter of counterfeit products to the EU after China and Hong Kong, according to data on the value of goods seized. Falls in the value of the Turkish lira and the deterioration of the Turkish economy are further fuelling demand as such items become cheaper to traders buying in euros. Continue reading...

Turkey’s trade in counterfeit goods booms, fuelled by falling lira

Value of country’s fakes tripled from 2019 to 2020 as it became main source of counterfeit designer clothes stopped at EU borders

Photos of fake Gucci bags, Louis Vuitton sweatpants and Nike sneakers are flaunted on the social media accounts of a Turkish store with more than 155,000 followers on TikTok. There are thousands of comments under the posts in English, Italian, Bulgarian, Polish, German, Spanish and French.

Turkey is the third biggest exporter of counterfeit products to the EU after China and Hong Kong, according to data on the value of goods seized. Falls in the value of the Turkish lira and the deterioration of the Turkish economy are further fuelling demand as such items become cheaper to traders buying in euros.

Continue reading...