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Magazine > Industry News > News Content

Swiss watch organizations partner to fight fakes

5/11/2009 1:13:59 AM

Geneva--The Fondation de la Haute Horlogerie (FHH) and the Federation of the Swiss Watch Industry (FH) are joining forces to launch an international anti-counterfeit-watch campaign.

According to a press release from the FHH, the campaign will center around hard-hitting visuals and one simple message, "Fake Watches Are For Fake People."

While it has been an issue for some time, the business of counterfeit timepieces is expanding rapidly, especially on the Internet, the release states.

Calculations based on seizures by customs show that counterfeit or pirated timepieces total about $200 billion-$360 billion a year, or 5-7 percent of the total trade. This includes more than 40 million fake Swiss watches worth about $1 billion, the equivalent of about 6 percent of the total Swiss watch exports recorded in 2007, according to the release.

These counterfeit timepieces damage the sales, reputation and capacity for innovation of the world's fine watch brands, the release states.

On a national level, counterfeit watches force governments to invest heavily in the fight against fakes while losing out on tax revenues.

Recently, police investigators in Los Angeles busted a counterfeit ring, arresting three individuals and seizing 22,000 counterfeit watches, purses and DVDs worth $10.5 million, according to the Los Angeles Times.

Watches seized in the raid included fake Rolex, Piaget, Omega and Tous models.

In addition to damaging brands and forcing local authorities to work overtime, the monies generated from counterfeiting benefit the criminal organizations and terrorist groups that oversee the counterfeit watch industry, where child labor is commonplace and health and safety standards are openly flouted, the release states.

The campaign launched at the Salon International de la Haute Horlogerie 2009.

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