The Federation of the Swiss Watch Industry reported that over 120,000 counterfeit Swiss watches were seized during anti-counterfeiting campaigns in 2013. In a single raid on a warehouse in Dubai, authorities seized about 90,000 fake Swiss watches.
In addition to the counterfeit watches, nearly 700,000 components used to make counterfeit Swiss watches were also seized during 2013.
The counterfeit watch industry is estimated to generate up to $1 Billion in sales each year.
The legitimate Swiss Watch Industry had exports worth $23.9 Billion in 2012.
Source: “Fake watches crackdown deemed a success,” swissinfo.ch, December 27, 2013.