The Impact of Counterfeit Products in the Luxury Fashion

Abstract

Counterfeit products have a huge impact on the luxury fashion industry. It undeniably has an economic impact involving the revenue of these luxury fashion brands. It also has an impact on the brand image and reputation, and consumer perception of luxury fashion brands. The main goal of the study is to study various factors contributing to this cause and its impact. The study focuses on four main primary aspects: counterfeit products and the industry, consumer perception, consumer purchase decisions, and its overall impact on the luxury fashion industry. To provide a comprehensive understanding of the relationship between counterfeit products and their impact on the luxury fashion industry various literature related to consumer motives for selecting counterfeit products and the impact these motivations have on the luxury fashion industry have been studied. The research also makes use of a questionnaire conforming to the Gen-Z and Millennials (Age 18-25<) of Bangalore city enquiring into the various aspects and causes. This questionnaire aims to study the responses in depth and come to a conclusion about the effects of counterfeiting including the damage to the brand image, and reduction in consumer trust and perception while raising questions about the legal initiatives put in place to combat violation of the creativity and exclusivity of luxury fashion brands.