Revenue Loss to Gulf Companies From Counterfeits

The regional manager for Virgin Megastore in Dubai stated that their industry believes that it losses between 20 to 30 percent of revenue due to counterfeiting and pirating activities in the Gulf Region.

Other companies in the region state that the loss to revenue could be as high as 60 percent due to counterfeiting.

In a single raid, investigators with the Federation of the Swiss Watch Industry found nearly 17,000 counterfeit Swiss watches in a private apartment in Dubai.

Source:  Shane McGinley, “10,000 fake watches seized in Dubai raid,” Arabian Business, January 10, 2013.