Cyprus records €63m in losses from counterfeit goods

Counterfeit goods in Cyprus cause losses of up to €63 million per year, with the majority, €49 million, stemming from counterfeit clothing and footwear, according to new findings from the European Union Intellectual Property Office (EUIPO).

Counterfeit products that mimic the appearance of original branded products have become a widespread phenomenon in Cyprus, with another €12 million estimated in the jewellery and watches sector and losses of around €2 million in the handbag sector....