The existence of a huge and growing market of Counterfeit goods poses a big threat to the sales of existing luxury brands. Some of the popular frequently faked labels are Louis Vuitton, Gucci and Burberry. The biggest hub of manufacturers of luxury brands is in China. Over 75% of traded goods that are replicas are manufactured in China. A consumer doesn’t mind buying a fake brand because they can own a Louis-Vuitton bag worth $2500 in store for $50.

More dangerous in nature is the manufacturing of counterfeit medicines across the globe. In 2012, forged steroids killed 11 people near Boston and affected even more. These drugs contain inappropriate amounts of required ingredients or sometimes do not have any key ingredients at all.eg: cancer medicine Avastin.

Impact on the society

These practises whether it is about general fashion goods or medicines not only promote unethical behavior but also has serious health implications and in the latter case, erode trust in health care providers. Counterfeit drugs are especially prevalent in developing and underdeveloped countries like India and Africa. In Sub Saharan Africa, the high mortality rate among young children is a big blow to humanity.

A study from the University of North Carolina shows how even buying counterfeit products promote dishonest behavior in people. They tend to cheat more and also judge others as unethical. The irony is that they do not even realize it. Buying fake luxury brands is not a true reflection of self and such people are characterised having low self esteem