According to the Intellectual Property Office, cosmetics was number three in the list of top 10 most investigated counterfeit products by the Trading Standards in 2017/18.
The harsh reality? The number of counterfeiters making big bucks out of stolen ideas continues to grow and every sector is affected – including cosmetics.
Shockingly, the IP Crime and Enforcement report of 2016/17 revealed that over 2.2 million articles of fake beauty products, including body care, make-up and perfumes were seized. Copycat cosmetics like these can put consumers in serious danger.
Rachel Jones
The toxic and hazardous materials used in fake products can cause swelling and rashes, and in extreme cases, even cancer.
Yet it is not just consumers that are in harms way when it comes to counterfeits. Brands suffer too. Fakes flooding online marketplaces, like Amazon or Alibaba, can have a crippling impact on a company’s financials. Trust me, I know this from personal experience after my own product was counterfeited in 2013.
On top of this, counterfeits can also cause serious harm to a brand’s hard earned reputation. Fake goods that fall into the hands of unsuspecting consumers not only cause a raft of unfair reviews, but these reviews can ultimately impact a brand’s bottom line.
So what can cosmetics companies do to protect their products and, most importantly, their customers?
Not yet a Subscriber?
This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.
Subscribe now Already a subscriber? Sign in here.
