The Swiss Customs Service estimates between 30 to 40 million counterfeit and replica watches are put into circulation annually. These counterfeit watches trigger considerable damage to the watch business, both financially because of possible lost sales and also brand degradation as a result of the market being flooded with counterfeit copies of the original watches.
The annual trade show of the watch industry known as BaselWorld attracts several attendees from China who spend their time photographing the latest models being displayed by the top luxury watch-making brands. The pictures of these new and prototype watches then find their way back to manufacturers in China where they are quickly copied and made into replica watches. The counterfeit timepieces are then rushed to market, frequently in advance of the authentic watch.
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