A new report of the OHMI on the economic cost of IPR infringement in the clothing, footwear and accessory sector reveals that annually the industry loses more than €26 billion of revenue which leads to approximately 500,000 jobs lost.

For many years now, the textile and clothing industry represented by EURATEX, the European Apparel and Textile Confederation, alerts the EU institutions and the national authorities about the disastrous consequences of counterfeiting and piracy for our industry and for the whole European economy. The report of the Office for Harmonization in the Internal Market demonstrates that the costs of IPR infringement borne by the European economy in terms of job losses, loss of profit and even, in some cases, closures of SMEs are very high.

Source: IP Frontline