Ferragamo and Amazon say they helped China seize counterfeits in Zheijang

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The logo of Italian luxury fashion house Salvatore Ferragamo is seen at a store in Zurich, Switzerland January 25, 2021. REUTERS/Arnd Wiegmann/File Photo

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MILAN, April 26 (Reuters) – Italians Salvatore Ferragamo (SFER.MI) and Amazon (AMZN.O) said on Tuesday that Chinese authorities had seized counterfeit products in Zheijang province, following a global investigation in which the luxury group and the online retailer cooperated.

Chinese officials raided a warehouse, seizing hundreds of counterfeits of Ferragamo’s iconic Gancini belt and buckles after the producer attempted to sell them on Amazon as originals, the two companies said in a statement. spouse.

The belt is one of Ferragamo’s best-known accessories – its link-like buckle used by the brand as a logo for many other products – and sells for over 300 euros ($320.61).

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In February 2021, Amazon and Ferragamo jointly filed two lawsuits in the United States against those manufacturers who allegedly used Ferragamo’s trademarks to mislead customers about the authenticity of products.

The Organization for Economic Co-operation and Development estimated the global trade in counterfeit goods to be $464 billion in 2019 and said an e-commerce boom in 2020-21 has led to massive growth in the offering counterfeit goods online.

According to industry experts, the negative effects of counterfeits include brand sales and reputation, potential safety issues of unregulated products, and links between counterfeiting and organized criminal activity.

As part of broader anti-counterfeiting efforts, Ferragamo last year removed more than 22,000 products and profiles from social media platforms and more than 130,000 product listings from online stores.

Amazon does not allow the sale of counterfeits on its website and in 2020 invested over $700 million to prevent this from happening. It has also set up a counterfeiting unit which collaborates with the authorities.

($1 = 0.9357 euros)

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Reporting by Cristna Carlevaro; Editing by Giulia Segreti and Edmund Blair

Our standards: The Thomson Reuters Trust Principles.

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