TFWA World Exhibition to host anti-counterfeiting summit

Nicole Mezzasalma

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The issue will also be raised in a keynote address during the event’s opening conference on Monday October 27

Tax Free World Association (TFWA) is to host an international summit with representatives of nine European and Mediterranean countries on the challenge of counterfeiting during the TFWA World Exhibition this month in Cannes. In addition, France’s minister for industry and consumer affairs Luc Chatel and Bernard Brochand, Mayor of Cannes, MP and president of the French national anti-counterfeit committee (CNAC), will make a keynote presentation on the topic at the opening conference on October 27.

The global counterfeiting business generates losses valued at nearly $700bn a year, according to the US Chamber of Commerce. TFWA president Erik Juul-Mortensen said: “Duty-free and travel-retail is the most secure retail channel in the world and counterfeiting has never been a problem in our shops. It is, however, a problem for many of our member brand companies, who suffer from lost sales in travel-retail as they do in other retail channels.

“The theme of TFWA World Exhibition this year is ‘Brand the World: Challenge the Future’,” he continued. “Counterfeiting is one of the most serious challenges faced by the premium and luxury goods industry today. As a global association of brands, we cannot ignore this growing problem. We are therefore delighted to host this new initiative and call upon those countries involved to intensify cooperation levels and unite to combat this international problem.”

Other speakers at the opening conference, moderated by Stephen Sackur of the BBC, include The UB Group chairman Vijay Mallya and The Skills Exchange founder Hamish Taylor.