Spain

The European Office for Harmonization in the Internal Market has released a new report saying that counterfeit apparel and accessories costs the European apparel industry over US$28 billion in lost profits each year. The report also claims that counterfeit products account for nearly 10% of all fashion sales throughout Europe and has even affected tax revenue since these products evade responsibility for their tax payments. Officials say a push for tougher legislation is needed to help combat the issue. (Luxury Daily) / (Europa.eu)