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As much discussed here as anywhere else, I lifted this article for all to read. Enjoy
The truth behind fake watches
The Swiss watch industry is stepping up its fight against counterfeits. By DYLAN TAN
SOME might say imitation is the most sincere form of flattery, but don't tell that to the Foundation de la Haute Horlogerie (FHH) and Federation of the Swiss Watch Industry. Both are taking a tough stance against counterfeit Swiss watches and the numbers tell the whole story.
According to FHH, the Swiss churned out about 26 million watches last year; the pirates on the other hand almost doubled the latter's production with 40 million fakes that netted a profit of US$1 billion for the copycats.
Pascal O Ravessoud, development director of FHH, says that the business of copying is not one to be taken lightly with counterfeiting of all sorts of products, not just luxury goods, making up 7 per cent of world trade and generating about US$400 billion in revenue. And because infringing copyright incurs fewer sanctions than drug trafficking, it remains a highly lucrative activity for criminal organisations.
'Counterfeiting is developing quite fast because of the Internet and the quality of the fakes is getting better,' says Mr Ravessoud. 'In the past you can buy a fake for $50 on the beach while on holiday, but you can tell those are not real.'
'These days you can't unless you have the real thing side by side,' he adds. 'The difference is in just the smallest details so it's turning people away from buying the genuine article.'
Mr Ravessoud says that one reason the quality of fake watches are getting better is because some of the Swiss watchmakers have delocalised their production and outsourced it to China, where he estimates up to 95 per cent of the copy watches come from.
'There is a knowledge transfer and these people are clever; if they have the machine and the know-how then the quality of their fakes also get better,' he notes.
Clamping down on the counterfeiters is also time consuming because of various local jurisdictions and red tape that make the prosecuting process a difficult one. So the FHH is targeting buyers instead and educating them about the truth behind buying fake watches. It is also stepping up its fight against watch counterfeiting and making it a priority objective by launching its second awareness campaign, 'You Have The Choice', through a short film competition called 'Take A True Look at Fakes'. Selected works can be viewed on its website www.hautehorlogerie.org now.
It comes hot on the heels of 'Fake Watches are for Fake People', FHH's first major public information campaign that appeared in 120 media in 24 countries two years ago.
'It's really first steps still for us,' says Mr Ravessoud. 'But we want people to know it is an illegal activity to buy fake watches knowingly because they are financing criminal and other illegal activities. Not only is it wrong and not good, but at the end of the day you can also be punished.'
The Business of Time
Published August 26, 2011
As much discussed here as anywhere else, I lifted this article for all to read. Enjoy
The truth behind fake watches
The Swiss watch industry is stepping up its fight against counterfeits. By DYLAN TAN
SOME might say imitation is the most sincere form of flattery, but don't tell that to the Foundation de la Haute Horlogerie (FHH) and Federation of the Swiss Watch Industry. Both are taking a tough stance against counterfeit Swiss watches and the numbers tell the whole story.
According to FHH, the Swiss churned out about 26 million watches last year; the pirates on the other hand almost doubled the latter's production with 40 million fakes that netted a profit of US$1 billion for the copycats.
Pascal O Ravessoud, development director of FHH, says that the business of copying is not one to be taken lightly with counterfeiting of all sorts of products, not just luxury goods, making up 7 per cent of world trade and generating about US$400 billion in revenue. And because infringing copyright incurs fewer sanctions than drug trafficking, it remains a highly lucrative activity for criminal organisations.
'Counterfeiting is developing quite fast because of the Internet and the quality of the fakes is getting better,' says Mr Ravessoud. 'In the past you can buy a fake for $50 on the beach while on holiday, but you can tell those are not real.'
'These days you can't unless you have the real thing side by side,' he adds. 'The difference is in just the smallest details so it's turning people away from buying the genuine article.'
Mr Ravessoud says that one reason the quality of fake watches are getting better is because some of the Swiss watchmakers have delocalised their production and outsourced it to China, where he estimates up to 95 per cent of the copy watches come from.
'There is a knowledge transfer and these people are clever; if they have the machine and the know-how then the quality of their fakes also get better,' he notes.
Clamping down on the counterfeiters is also time consuming because of various local jurisdictions and red tape that make the prosecuting process a difficult one. So the FHH is targeting buyers instead and educating them about the truth behind buying fake watches. It is also stepping up its fight against watch counterfeiting and making it a priority objective by launching its second awareness campaign, 'You Have The Choice', through a short film competition called 'Take A True Look at Fakes'. Selected works can be viewed on its website www.hautehorlogerie.org now.
It comes hot on the heels of 'Fake Watches are for Fake People', FHH's first major public information campaign that appeared in 120 media in 24 countries two years ago.
'It's really first steps still for us,' says Mr Ravessoud. 'But we want people to know it is an illegal activity to buy fake watches knowingly because they are financing criminal and other illegal activities. Not only is it wrong and not good, but at the end of the day you can also be punished.'
The Business of Time
Published August 26, 2011
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