Counterfeit goods are a constant problem for world renowned brands, especially in Asia. According to adidas CEO Kasper Rorsted, during a recent interview with CNBC, he claims up to ten percent of all adidas products on sale in Asia could be fake.
Rorsted expressed, "In Asia it is a problem, but that's an overall market problem, where we believe that approximately up to 10 per cent in certain categories are fakes, are copying. We are seeing that in bricks and mortar and we are seeing that online... It continues to be a big problem for our industry."
Despite the ongoing battle with counterfeit items, adidas still reported a profitable first quarter of the year, driven by the continued growth in North America, as well as in Greater China and online. Growth in Greater China was marked at twenty-six percent in the first three months of the year, and Rorsted attributed the strong performance to the emergence of "athleisure" - the emergence of active wear within casual aesthetic.
"I think the trend towards more casualwear is only starting right now. So the question is not whether … the trend is going to continue, it is how you service that trend," Rorsted said.
Our recent investigation into Chinese e-market Taobao revealed that for every one authentic Kanye West x adidas Originals YEEZY sneaker sold on Taobao, roughly six fake pairs change hands. Plus, outright bootleg products abound online, like this OFF-WHITE x adidas NMD collaboration sold on a Thai website.
For the full story, head on over to CNBC.