October 24, 2012
New Jersey warehouse tenants discovered a stinky stash of bursting bottles of Heinz ketchup in their building last week. Counterfeiters had fraudulently—and ineptly—repackaged the condiment as a more expensive Heinz ketchup with real sugar instead of high fructose corn syrup. But in this counterfeit(ing) bull market, ketchup is small potatoes. According to USA Today, “325% more counterfeit goods were confiscated from 2002 to 2012 than in the previous decade.” Hitching a ride on product branding has never been so profitable. Authenticity has never been so scarce. Counterfeit products now span the globe and the alphabet, from Adderall and Apple stores to Wedding dresses and Xanax. There is even a nascent movement to assign consumer items unique identification numbers that can prove chain of custody.
We mentioned the rising attacks on major brands in a previous Mood Riff, but it’s worth another look. Click here to read more.
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