De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
counterfeiting
Sustainability
Social Goods | $461Bn in Fakes, Chanel and Prada's Secret Supply Chains
Social Goods is a weekly roundup of the most important news at the intersection of fashion and ethics, sustainability and corporate social responsibility.
Social Goods | $461Bn in Fakes, Chanel and Prada's Secret Supply Chains
Social Goods is a weekly roundup of the most important news at the intersection of fashion and ethics, sustainability and corporate social responsibility.
News & Analysis
Trade in Fake Goods Now Worth $461 Billion
Counterfeited and pirated goods accounted for up to 2.5 percent of world trade, or as much as $461 billion, significantly damaging companies and state coffers, said the OECD.
Trade in Fake Goods Now Worth $461 Billion
Counterfeited and pirated goods accounted for up to 2.5 percent of world trade, or as much as $461 billion, significantly damaging companies and state coffers, said the OECD.
News & Analysis
Thai Police Seize Almost 900,000 Counterfeit Sunglasses
Police in Thailand say they have seized almost 900,000 counterfeit brand-name sunglasses at a warehouse where they also arrested two Chinese nationals accused of making the products.
Thai Police Seize Almost 900,000 Counterfeit Sunglasses
Police in Thailand say they have seized almost 900,000 counterfeit brand-name sunglasses at a warehouse where they also arrested two Chinese nationals accused of making the products.
Global Markets
North Korea's Fashion Secrets
Fashion is an increasingly important tool for North Korea’s ‘black market generation’ to make small but significant changes to the culture and economy of the secretive state.
North Korea's Fashion Secrets
Fashion is an increasingly important tool for North Korea’s ‘black market generation’ to make small but significant changes to the culture and economy of the secretive state.
News & Analysis
Thai Border Market Vendors Torpedo Crackdown on Counterfeits
Thailand, like much of Asia, is awash with counterfeit products ranging from cosmetics to DVDs.
Thai Border Market Vendors Torpedo Crackdown on Counterfeits
Thailand, like much of Asia, is awash with counterfeit products ranging from cosmetics to DVDs.
Technology
Italian Police Shut Down Fake Prada Website
Italian police said on Friday they had shut down a website selling fake products carrying the Prada label.
Italian Police Shut Down Fake Prada Website
Italian police said on Friday they had shut down a website selling fake products carrying the Prada label.
China
Louis Vuitton Sues Counterfeit Online Sellers in China
Louis Vuitton is seeking damages from three people convicted of offering counterfeit versions of its clothing, shoes and handbags on Alibaba Group Holding Ltd's popular Taobao shopping website, a Beijing court said.
Louis Vuitton Sues Counterfeit Online Sellers in China
Louis Vuitton is seeking damages from three people convicted of offering counterfeit versions of its clothing, shoes and handbags on Alibaba Group Holding Ltd's popular Taobao shopping website, a Beijing court said.
Global Markets
Alibaba Warned by US to Combat Sales of Counterfeit Products
Alibaba Holding Group Ltd. has to do a better job of fighting the sale of counterfeit goods and pirated materials on its websites if it wishes to remain off the US government’s annual "Notorious Markets List," according to the US Office of the Trade Representative.
Alibaba Warned by US to Combat Sales of Counterfeit Products
Alibaba Holding Group Ltd. has to do a better job of fighting the sale of counterfeit goods and pirated materials on its websites if it wishes to remain off the US government’s annual "Notorious Markets List," according to the US Office of the Trade Representative.
Technology
Gucci, YSL, Others Suing Alibaba Back Down on Mediation Threat
Luxury brands suing Alibaba promoting the sale of counterfeit goods have backed away from their threat to withdraw from mediation, despite Alibaba founder Jack Ma's statement that he would rather lose the case than settle.
Gucci, YSL, Others Suing Alibaba Back Down on Mediation Threat
Luxury brands suing Alibaba promoting the sale of counterfeit goods have backed away from their threat to withdraw from mediation, despite Alibaba founder Jack Ma's statement that he would rather lose the case than settle.
Global Markets
What 'Hot Deal' Means on Singles Day in China
China’s economy is struggling, and come Wednesday the country’s lonely hearts will do their best to put it back on track.
What 'Hot Deal' Means on Singles Day in China
China’s economy is struggling, and come Wednesday the country’s lonely hearts will do their best to put it back on track.
China
Alibaba Lobbies to Stay off US Blacklist List for Fakes
Alibaba Group Holding Ltd is lobbying hard to stay off the US Trade Representative's blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms.
Alibaba Lobbies to Stay off US Blacklist List for Fakes
Alibaba Group Holding Ltd is lobbying hard to stay off the US Trade Representative's blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms.
China
Bank of China Ordered to Release Counterfeiters' Records
A New York judge has ordered the Bank of China to hand over detailed information about Chinese bank accounts used by a counterfeiting ring that allegedly sold millions of dollars of fake Gucci handbags and wallets in the US.
Bank of China Ordered to Release Counterfeiters' Records
A New York judge has ordered the Bank of China to hand over detailed information about Chinese bank accounts used by a counterfeiting ring that allegedly sold millions of dollars of fake Gucci handbags and wallets in the US.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.