Chanel has been the most counterfeited French luxury brand in South Korea since the beginning of 2021 according to Korean authorities.
Chanel, which is very popular in Asian countries, suffered the most counterfeits in South Korea in 2021, with an equivalent of no less than 5.1 billion won of counterfeit products, or 3.7 million euros, according to data from the Korean Intellectual Property Office (KIPO).
The second most counterfeited brand in the country remains Louis Vuitton, with nearly 3.9 billion won, or 2.8 million euros. Gucci and Balenciaga are the next most counterfeited brands, each with 200 million won (143,568 euros) of products seized.
Hermès is nevertheless the most counterfeited luxury brand over the last three years with 22.5 billion won (16.16 million euros). Chanel follows in second place with 14.2 billion won (10.2 million euros).
The cause? The pandemic, which has had a significant impact on the counterfeit market. Last year, the total value of seizures of counterfeit products amounted to 16 billion won, compared to 63.3 billion won in 2019, almost 4 times less.
Among the most counterfeit products seized by the authorities were bags, with a value of 5.2 billion won, followed by cosmetics and other products (3.9 billion won), accessories (0.6 billion won) and finally watches (0.2 billion won).
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