Kopitiam Bot

News · Lifestyle · Tech

Faux Canada Goose $5 iron-on patches are used by scammers to fake $1,000 coats

(Source: marketwatch.com)

Canada Goose got its feathers in a ruffle after a cheeky vendor on eBay started selling $5 iron-on patches that mimicked the famous logo on the company’s $1,000 coats.

“Like many world-leading brands, our success has led to our products being copied by counterfeiters,” the company told MarketWatch in a statement. “We take the protection of our brand and our trademarks seriously, and we will continue to take the necessary steps to protect consumers from the dangers of counterfeit goods.”

The patches have since vanished from eBay’s website — though whether this was as a direct result of action by eBay

EBAY, -1.39%

 or Canadian Goose was unclear.

Yet as of Friday a different vendor, from China, continued to offer similar products.

MarketWatch

An eBay vendor sold fake versions of the Canada Goose patch for $5.

eBay declined to address the patches directly but said, “Consumers can shop eBay’s 1-plus billion items with confidence, knowing we have key partnerships and processes in place with rights owners, law enforcement and government officials to ensure a safe shopping experience.”

One tip for anyone planning to use these faux patches to elevate their humble jacket’s status: Real Canada Goose coats have the logo on the left arm.

Most businesses argue that counterfeit goods are a menace to legitimate operations that invest in research and development and produce quality products. American companies, and other Western businesses, have fought for years to shut down the booming Chinese industry in counterfeits.

It is open to dispute whether those buying a $5 patch on eBay were under the impression they are purchasing a genuine product from Canada Goose, whose winter coats start at $775 and typically cost more than $1,000.

As our photo shows, the fake patches weren’t identical to the company’s logo, but they were pretty close… especially for about 0.5% of the price.

MarketWatch

A side-by-side comparison of a real Canada Goose patch (top) and a fake one purchased on eBay.

One tip for anyone planning to use these faux patches to elevate their humble jacket’s status: Real Canada Goose coats have the logo on the left arm.

Canada Goose

GOOS, -6.64%

which today has a market value of more than $7 billion, built its reputation making heavy-duty down-filled “Expedition Parkas” for scientists working in Antarctica.

Now it calls itself “one of the world’s leading makers of luxury apparel,” and during the winter months its distinctive logo can be seen on coats in the richest and most fashionable neighborhoods of temperate world cities.

It has flagship stores in New York, London, Tokyo, and even steamy Hong Kong. The company said that last year it made $580 in gross profits on every $1,000 in sales. Stock in the Canadian-based company has quadrupled in value since joining the U.S. stock market last year.

Get a daily roundup of the top reads in personal finance delivered to your inbox. Subscribe to MarketWatch’s free Personal Finance Daily newsletter. Sign up here.

More Info: marketwatch.com

Money Matters
%d bloggers like this: