Richemont is determined to protect the intellectual property assets of its Maisons and businesses as creativity, innovation and craftsmanship are core values that we share with our clients. Working with customs, police and administrative authorities around the world, Richemont organises daily raids and seizures to contain the spread of counterfeit products and send a strong message to pirates and counterfeiters. In addition to this Richemont is committed to a programme of civil enforcement using strategic litigations to highlight the issue and hopefully defer others from infringing our key assets.
Many of Richemont’s Maisons are members of the Federation of Swiss Watch Industry and of the Fondation de la Haute Horlogerie. Both of these Swiss organisations are active in the field of anti-counterfeiting via public campaigns to raise awareness of the criminal networks frequently found behind such products and the risks of prosecution which face the buyers of fakes in general.
Counterfeiting and piracy are highly pervasive across countries and sectors, representing a multi-billion dollar industry that continues to grow globally. Recent estimates evaluate the global economic effects and social impacts of counterfeiting and piracy to be some USD 1.9 trillion. According to Interpol, criminal organisations are frequently behind counterfeits and pirate products. Those organisations are complicit in child labour, modern slavery, illicit distribution, fraud and tax evasion. Further information may be found on Interpol’s website.