A new study has revealed the most counterfeited luxury brands on the social media video application TikTok, with Gucci taking the top spot.
The Organisation for Economic Co-operation and Development (OECD) recently issued a study which estimated that global trade for counterfeit brands is around £500 billion a year, and is showing no signs of slowing down.
Interested in the study, money.co.uk commissioned an investigation, reviewing 40 of the most popular luxury brands using variations of each hashtag, noting down the number of views.
This allowed them to rank the luxury brand that is counterfeited the most on TikTok, from most to least.
The investigation revealed that the most counterfeited luxury brand on TikTok is Gucci, with the world-renowned Italian luxury brand featuring 13.6 million total TikTok hashtag views to fake products, with Gucci belts and bags proving to be the most counterfeited products on the social platform.
Coming just behind in second is Rolex with 11.7 million TikTok hashtag views. Louis Vuitton came in third place with 2.08 million TikTok hashtag views. Completing the top five is Dior with 282,700 TikTok hashtag views and Chanel with 163,181 TikTok hashtag views.
Last year, a specialist anti-counterfeiting team was created by IP firm Marks & Clerk in response to the growing counterfeit goods trade, which is costing the UK billions.
The Government must act now to better protect UK consumers from the growing threat of e-commerce fraud which has continued to develop at pace during the COVID-19 crisis, the UK’s Anti Counterfeiting Group (ACG) claimed recently.