Jewellery counterfeiting can be defined as the imitation of precious materials such as valuable metals and gemstones or altering them in a way that diminishes their value. In recent years, the jewellery industry has increasingly fallen victim to counterfeiting. This type of fraud impacts the quality and authenticity of the items as well as the honesty of the manufacturing companies.
According to a report by the U.S. Customs and Border Protection, jewellery ranked fourth in the category of seized counterfeit products in the fiscal year 2021, constituting 12% of all seizures. However, in terms of claimed dollar value, these products were at the forefront. According to the report, if the seized items had been genuine, the total manufacturer's suggested retail prices would have been almost $1.2 billion higher.
According to the report from the U.S. Customs and Border Protection in the fiscal year 2021, the most counterfeited jewellery item seized was the Cartier Love bracelet featuring screw motifs. Among other heavily counterfeited jewelry pieces were items bearing Chanel's double-C logos, replicas of Cartier's Juste un Clou bracelet and pieces from Van Cleef & Arpels' Alhambra collection. Additionally, there were pieces claiming to be from luxury brands such as Bulgari and Tiffany & Co.
In 2023, fake jewelry shipments destined for two different recipients in Hong Kong were intercepted in the state of Kentucky, USA. The first shipment contained 400 bracelets, and the second shipment included 993 jewelry sets; all bearing "suspect" Van Cleef & Arpels branding. If genuine, these items would have a value of 3.7 million dollars. The second shipment comprised 1,367 fake necklaces featuring "suspicious" markings from Chanel, Dior, Louis Vuitton, Gucci, Fendi, Yves Saint Laurent, Tiffany & Co., Versace, Givenchy, Dolce & Gabbana, and MCM. If authentic, these items would be valued at over 710,000 dollars.
Counterfeit products, becoming an increasingly significant threat to the jewelry ecosystem, inflict irreparable damages on both manufacturers and consumers. CounterFake, aiming to address this issue, utilizes advanced artificial intelligence infrastructure to protect consumers and brands more effectively with each passing day.
