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.
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.
Source: Footwear News