Trade in Fakes Hits Hungary
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Trade in counterfeit merchandise has cost Hungarian companies EUR 189 million in lost revenue and resulted in 4,466 job losses, the Hungarian National Intellectual Property Office (SZTNH) said on Monday.
The SZTNH based its findings on a report by the European Union Intellectual Property Office (Euipo) covering the period 2018-2021.
The fresh report, which focused on trade in counterfeit clothing, cosmetics and toys, showed local apparel businesses lost EUR 126 million in turnover and made 3,247 redundancies because of fakes.
Hungarian companies in the cosmetics industry lost EUR 51 mln in turnover and cut 870 jobs because of counterfeits, while fake toys caused local companies EUR 12 mln in revenue losses and reduced headcount by 349.
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