Knock Off Makeup
Growing over 10,000% in the last two decades, counterfeit products exist in virtually every industry sector, including food, beverages, apparel, accessories, footwear, pharmaceuticals, cosmetics, electronics, auto parts, toys, and currency. The spread of counterfeit goods is worldwide, with the International Chamber of Commerce (ICC) in 2008 having estimated the global value of all counterfeit goods at $650 billion annually, increasing to $1. 77 trillion by 2015. Countries including the U. S. , Italy and France are among the hardest hit, as their economies thrive on producing high-value products, protected by intellectual property rights and trademarks. By 2017, the U. S. alone was estimated to be losing up to $600 billion each year to counterfeit goods, software piracy and the theft of copyrights and trade secrets.