Cost Of Counterfeit Brands In Hungary Reaches HUF 300 Bn A Year
- 7 Jun 2018 9:09 AM
- Hungary Matters
Brand piracy in Hungary costs businesses some 300 billion forints (EUR 940m) a year, according to a report by the European Union Intellectual Property Office (EUIPO) published on World AntiCounterfeiting Day.
The cost of counterfeit brands adds up to about 12.2% of total sales, almost five percentage points higher than the European average. Hungary’s National Board Against Counterfeiting said counterfeit drugs cost the pharmaceutical industry 140 billion forints a year locally.
Knock-off clothing costs businesses 70 billion forints and counterfeit smartphones 29 billion forints.
XpatLoop Media Partner
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