From Investing.com: 2024-07-09 15:52:13

– Paris authorities conducted a crackdown on counterfeit goods in a touristy flea market near the site of the 2024 Olympics, seizing over 63,000 fake items and arresting ten people.
– Counterfeit fashion cost French companies €1.7 billion in lost sales annually from 2018 to 2021, leading to intensified policing efforts ahead of the Olympics.
– Raids targeting informal merchants have faced criticism for pushing economically precarious individuals into further hardship.
– Paris is aiming to shed its reputation as the counterfeit capital of Europe, with authorities training customs agents to combat fake Olympics merchandise and networks online.
– Concerns are raised over a potential drop in luxury sales during the Olympics, as Air France-KLM predicts a €180 million hit with foreign tourists avoiding Paris during the event. Luxury companies may shift their focus to other locations.



Read more at Investing.com: Deja-vu? In Olympics push, France ramps up war on fakes By Reuters