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Friday, June 01, 2012

Vibram USA almost overrun with conterfeits

Chinese counterfeiters have been causing mayhem for many US footwear companies like Vibram USA. The runaway success of Five Fingers running shoes created a multi-million dollar business. Despite revenues jumping from $400,000 (£255,000) in 2007 to $90m last year, quick success meant Vibram struggled to keep up with consumer demand. This gave counterfeiters an opportunity to move into the market. By the autumn of 2010, more than half of the Google search results for Five Fingers led to counterfeit sites, according to BirthdayShoes.com . In 2010 more than $178m worth of counterfeit goods were seized at US borders, according to the country's Department of Homeland Security. The growth in confiscated footwear has mirrored the growth in online sales, which has made it more difficult for authorities to track counterfeit products. Calls to government to help stop illegal counterfeiting did little to stem the follow but making potential consumers better informed seems to have worked and now Vibram are in a healthier state.

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