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Monday, January 22, 2024Sector

Counterfeit products: 800 million lost in annual sales for the French cosmetics industry

Contrefaçons : 800 millions de perte de ventes annuelles pour l'industrie cosmétique française

According to a study by the EUIPO (European Union Intellectual Property Office), counterfeit products cost the European clothing, cosmetics and toy industries 16 billion euros and almost 200,000 jobs every year. The French cosmetics industry is the hardest hit by counterfeiting, with annual lost sales of 800 million euros.

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Based on data from 2018 to 2021, the EUIPO study shows that sales of authentic clothing and footwear, cosmetics and toys have recorded annual losses of €12 billion, €3 billion and €1 billion respectively.
Collectively, Germany, France, Italy, Spain and Austria recorded the biggest losses in these sectors, with sales of authentic products down by almost €8 billion.

Small copies, big impact…

Of the three sectors studied, the toy sector was the most affected by counterfeiting, while the cosmetics sector suffered the least. The EUIPO report shows that the losses suffered by manufacturers of genuine cosmetics amounted to just under 5% of total sales in the European Union. The French cosmetics industry is the hardest hit in absolute terms, with annual sales losses of €800 million. According to the report, the highest losses were recorded in Bulgaria (8.7%), Cyprus (7.9%), Romania (7.9%), Portugal (7.7%) and Hungary (7.6%).

In addition to the monetary losses and the impact on the employment market, the report establishes that counterfeiting in the cosmetics and toy sectors, in particular, can pose significant risks to consumer health and safety. These potentially dangerous products account for 15% of counterfeit goods seized at the EU’s external borders.

This study …

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