Preview

Executive Summary: The Devil Continues to Wear Counterfeit Prada

Powerful Essays
Open Document
Open Document
1414 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Executive Summary: The Devil Continues to Wear Counterfeit Prada
Executive summary of “Devil continues to wear ‘counterfeit’ Prada: a tale of two cities”
Article Options and Tools View: Abstract

Add to Marked ListDownload CitationTrack Citations
Author(s):

Citation:
, (2015) "Executive summary of “Devil continues to wear ‘counterfeit’ Prada: a tale of two cities”", Journal of Consumer Marketing, Vol. 32 Iss: 3
DOI
http://dx.doi.org/10.1108/JCM-05-2015-031
Downloads:
The fulltext of this document has been downloaded 49 times since 2015

Publisher:
Emerald Group Publishing Limited
Article
title
Executive summary of “Devil continues to wear ‘counterfeit’ Prada: a tale of two cities”
Section:ChooseTop of pageExecutive summary of “Dev... <<
Article Type: Executive summary and implications for managers and executives From: Journal of Consumer Marketing, Volume 32, Issue 3
This summary has been provided to allow managers and executives a rapid appreciation of the content of the article. Those with a particular interest in the topic covered may then read the article in toto to take advantage of the more comprehensive description of the research undertaken and its results to get the full benefit of the material present.
The problem of counterfeiting has grown to a degree that fake products account for a significant percentage of global trade. It is rampant within numerous product categories and is of a huge concern to manufacturers and brand managers alike. Loss of corporate revenues negatively affects economic growth, ensuring that the issue is also salient at the government level.
Recent years have seen that counterfeiting become a major worry for luxury brands. Consumption of such brands has proliferated, and availability of forged imitations has risen accordingly. Commentators note the ease in which luxury brands can be copied cheaply and sold for a sizeable profit.
Demand for counterfeit luxury brands is considerable both in Taiwan and Mainland China. The market is especially lucrative in Taiwan, where Chinese consumers see

You May Also Find These Documents Helpful

  • Good Essays

    In the essay, “The Fake Trade,” Dana Thomas makes a direct statement, “Most important, we need to spread the word on the devastating effects counterfeiting has on society today.” She also goes on to say, “But the reality is that we’re all victims of counterfeiting, whether from the loss of jobs or of tax revenue that could fund our schools and our roads…” Since this is her belief her purpose is to inform readers about counterfeit goods. She gives many statistics on how bad counterfeiting goods can be. “Since 1982, the global trade in counterfeit and pirated goods has grown from an estimated $5.5 billion to approximately $600 billion annually.” She continues to give a few examples of counterfeit goods. “The Food and Drug Administration has…

    • 382 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    According to Hindu magazine, for international luxury brands, “India is no longer a mere testing ground, but a lucrative market. Estimates suggest that India has more consumers for luxury goods than the adult population of several countries.” Based on the World Wealth Report 2005-06, published by Merrill Lynch and Cap Gemini, India has the world’s second fastest growth at 19.3 per cent in the number of high net-worth individuals in 2005. Every year 25 million people are getting added to the Indian middle class population. Therefore, companies and brands across the world, especially luxury brands cannot take their eyes off this fact, since it is a great opportunity for them.…

    • 1866 Words
    • 8 Pages
    Powerful Essays
  • Best Essays

    Miuccia Prada was born in Milan on May 10, 1949 into a family of luxury leather goods manufacturers (Craven, 2008). Throughout the 1970s she was a champion for women’s rights and infamously part of the Italian Communist Party (Craven, 2008). In 1977, she met her husband and now business partner Patrizio Bertelli, who is now the driving force behind her business (Galloni, 2010). It was not until after she finished her PhD in Political Science, and a five-year stint studying mime at the Teatro Picco, that she took over her family’s business in 1978 (Craven, 2008). By 1985 Miuccia Prada had already created her first breakthrough line: black, unlabeled, finely woven, nylon handbags that…

    • 1637 Words
    • 7 Pages
    Best Essays
  • Better Essays

    For example there are many fake watches on the high street one of the main one that has breached the trade description act that is fake “ice watches” these are designer watches that shops or…

    • 1343 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Annotated Bibliography

    • 1333 Words
    • 6 Pages

    The range of resources for this annotated bibliography includes: (1) management journal articles; (2) E-Book from Herriot-watt University E-Library; (3) Google Scholar. By using the above three resources, a balanced response between the theoretical and practical aspect on the research topic can be achieved.…

    • 1333 Words
    • 6 Pages
    Good Essays
  • Better Essays

    Burberry Case Study

    • 5112 Words
    • 17 Pages

    Jacobson, M. Lauren (2013), Burberry Case Study: Retrived from http://laurenmjacobson .wordpress.com/case-studies/burberry-case-study at 20 November 2013…

    • 5112 Words
    • 17 Pages
    Better Essays
  • Good Essays

    Thomas cites different people, whose job is closely related to counterfeiting of luxury goods, to support her arguments. For example, the mention of the testimony of the secretary general of Interpol is crucial to support her argument that relates the production of fake goods to well-known criminal organizations. The secretary general of Interpol, Ronald K. Noble, states that the profit made by the sell of counterfeiting good goes to groups associated with criminal organizations, such as Revolutionary Armed Forces of Colombia. (Thomas, par 5). Also, the author describes her first-hand experience to counterfeiting when visiting a clandestine factory in Guangzhou which grants her credibility on the topic. The author offers a detailed description of her visit to the factory which provides support to her argument that counterfeiting is negative, not only because it affects the legit companies profi/economy, but also innocent human lives. (Thomas par 7). It is also effective that the author connects her appealing to ethos through her personal experience to her appealing to…

    • 774 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    THE DEVIL WEARS PRADA

    • 2898 Words
    • 8 Pages

    When we hear the name of the movie, "The Devil Wears Prada", it may triggers you to imagine about the glory of the fashion industry. The story takes place in an urban city, New York where the heterogeneity and the trend of fashion is always created. The main characters in this movie, Andrea Sachs is a journalist who had just graduated from university and started working as the second assistant of the authoritative CEO of “Runway Fashion Magazine”, Miranda Priestly. The story mainly happens in between the two protagonists in the company with the theme of consumerism in the field of fashion and identity.…

    • 2898 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    To face their first challenge of political and cultural uncertainties, the company can hire local designers to develop Asian inspired products. They could also embed the European way of living into the Asian lifestyle. To entice the growing “new money” of the Asian market, the company can use celebrity brand endorsements, cheaper product lines and consistent global pricing. The challenge of eliminating counterfeit products can be combated by creating a unique shopping experience and shutting down large counterfeit operations.…

    • 6617 Words
    • 27 Pages
    Powerful Essays
  • Good Essays

    zara fashion swot

    • 1970 Words
    • 8 Pages

    d. Copying of styles is quite prevalent in this industry, which can attract the customer who does not mind lower quality but ―similar‖ looking apparel. The example will be counterfeiting of Zara products in Indonesia which is currently trending…

    • 1970 Words
    • 8 Pages
    Good Essays
  • Powerful Essays

    What is the role of fashion Promotion within the fashion Industry, and how will it develop over the next five years?…

    • 1912 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Christian Dior

    • 1312 Words
    • 5 Pages

    Christian Dior — the magical name that for forty-seven years now has been synonymous the world over with the enchantment of French fashion, elegance and style is a luxury goods company controlled and chaired by businessman Bernard Arnault who also heads LVMH Moët Hennessy • Louis Vuitton – the world's largest luxury group.. Regardless of the intrinsically fleeting nature of this creative sphere and the endless cycle of seasonal collections, the House of Christian Dior has somehow withstood the cruelty of time: season after season, Dior has, almost paradoxically, built its own timelessness, eschewing the ephemeral and placing itself squarely in the realm of tradition.…

    • 1312 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    Calvin curbed by copycats

    • 654 Words
    • 3 Pages

    2) Given Calvin Klein’s current market position, the brand is suffering. Stores aren’t interested in selling the Calvin Klein fabric, because they don’t want to send the wrong signals to their customers. The brand is losing its exclusivity, because of the counterfeit products. This devaluation of the brand is resulting in stores losing confidence in the possibilities of making profit. Ultimately the problem will end up destroying the company’s revenue. Their chance of making a turnover is minimized, when prominent stores turn down their products. It creates a domino effect, and suddenly the whole market has turned down Calvin Klein. Imitators’ harvest many years of hard work by copying another company’s brand, but occasionally, and in this particular situation, they destroy the entire brand - an escalating problem. High profiled stores aren’t interested in Calvin Klein because of these facts. It’s a major problem for the entire label business. Conclusion is that, Calvin Klein is reckoned as one of the…

    • 654 Words
    • 3 Pages
    Better Essays
  • Better Essays

    According to Phuong one ‘major headache’ for cosmetic companies in the past was the large amount of counterfeit and smuggled personal care products. She cites the example of the US hair care brand Lander. “Lander has no representative or official distributor here but you can buy it at the local supermarket.” In 2006, of the US$82m consumers spent on beauty products in Vietnam, approximately 60% was spent on illicit counterfeit or smuggled products. Although still widely available, fake products are on the decline as legitimate manufacturers distribute more and more…

    • 1421 Words
    • 6 Pages
    Better Essays
  • Good Essays

    A beautiful packaged product launched in the market after massive advertising campaign may attract the consumer. One who cannot afford to buy most of the goods is easily tricked in to buying fake and imitation goods. He may buy that product once, but if the product is of poor quality, he would not buy it again.…

    • 310 Words
    • 2 Pages
    Good Essays