US provider of brand protection management solutions, GenuOne, has announced that it will participate in the American Apparel & Footwear Association (AAFA) seminar on counterfeiting. The seminar entitled, "Knock It Off! Brands and the Counterfeiting Quandary" will take place at the Fashion Institute of Technology in New York on November 15-16. The seminar will feature perspectives from industry leaders including attorneys, enforcement personnel, and executives from world renowned brands.
"Counterfeit products from factories in China and other places in Asia are draining billions of dollars out of the footwear and apparel industries," said Jeffrey Unger, CEO of GenuOne. "The Internet has only made the problem worse - sellers of counterfeit goods now have an anonymous platform where they can reach billions of buyers and sellers. Consumers may be buying counterfeit products they believe to be real that are in fact made by unauthorised manufacturers with substandard materials."
According to GenuOne, counterfeiting costs the global economy as much as $512 billion per year with the majority of that amount coming from the footwear and apparel industry.
