$32 Million Worth of Fake Nike's and Adidas Seized in Chile
Over the years, the sneaker industry and resale market have become a very lucrative business, worth $1.2 Billion and counting but that’s not the only thing climbing the charts, with the help of social media giving these so-called resellers a platform the underworld of the counterfeit market have also been turning a profit. But thank to Chile Customs recent work, seizing a shipment originated from China, concealed beneath packages of napkins, containing 16,454 counterfeit shoes split up into 474 boxes, the counterfeit market just took a $32 million dollar hit.
According to the report, many of the fake kicks were direct copies of styles produced by Adidas and Nike.
Although the shipment’s customs documentation declared the total value at $24,209, the Chilean National Customs Office estimates that the actual value is around $31,786,395. The discrepancies in the declared values, as well as irregularities in the shipment’s route and weight, set off red flags for customs officials.