Ersatz goods selling on Canal Street isn’t exactly news in New York, even though Mayor Mike Bloomberg staged an impressive photo op amid a mountain range of purses. But the size and stealth of the raid on what cops called “Counterfeit Triangle” seemed to verify a change that many in the brand community have sensed for some time. Counterfeiting is no longer a localized nuisance akin to Three-Card Monte games. Thanks largely to the deadly combo of the recession and the surge of e-commerce, it’s fast becoming an epidemic threat to global trade, garnering headlines and the serious attention of local and federal law enforcement.
Any coincidence, given those factors, that although traffic and profits are down, online counterfeit bazaar eBay beat Wall Street estimates in the last reported quarter?
Chanel hat tip to Susan Scafidi.