First, it steals creativity from the designer and luxury labels want their products to be associated with the luxurious. Coco Chanel would roll over in her grave knowing that her designs are carried into Dollar Tree stores in droves. Guccio Gucci's Italian leather wear is now plastic wear made in China and so commonly worn that buyers think that his first name is Faux. Louis Vuitton's Speedy is regularly carried by the needy and the designer world is in a frenzy.
Secondly, the government is said to lose out on significant tax revenues and the sellers operate with huge profit margins.
Thirdly, it is estimated that at least 90% of the funds used to purchase counterfeits are used to fund terrorist groups and linked to child labor. So what can we do? Punish the seller, the buyer, or both?
Luxury brands were dangled over our heads to make us swoon and we fell in love with the prestige that comes with owning designer labels. Then along came the replicas which were more affordable. Now buyers and sellers alike are viewed as criminals and the crime of passion could land both behind bars. What's the charge? Identity theft or receiving stolen property?