P11B worth of fake luxury brands seized in Binondo

AT least P11 billion worth of fake luxury goods in Binondo, Manila were seized by the Bureau of Customs (BOC).

According to the BOC, the owners of the seized goods failed to present proof of payment of correct duties and taxes and evidence of legitimate importation.

The counterfeit items included brands such as Gucci, Chanel, Louis Vuitton, Nike, Rolex, Apple, Hermes, Guess and Dior.

“Counterfeit goods undermine legitimate businesses, leading to financial losses and weakening consumer trust,” BOC Commissioner Bienvenido Rubio said.

BOC data showed that counterfeit goods worth P18.89 billion topped the list of seized items during the first half of the year.

The BOC said it is facing two major challenges in dealing with counterfeit goods: the expeditious facilitation of trade through brand certification and verification by brand owners, and the emergence of e-commerce as a contributor to counterfeiting.

The counterfeit goods will be destroyed through shredding and rendering at facilities accredited by the BOC.