AN OVERVIEW OF THE COUNTERFEIT COSMETICS INDUSTRY

On 31 August, Sayari published an article which says that the rapid expansion of counterfeit cosmetics internationally and in the US poses a public health risk for consumers and threatens the bottom lines of countless make-up companies.  The value of the cosmetics industry is expected to reach $805 billion by 2022.  Looking at recent cases, it says that counterfeit make-up seizures in the US and abroad are becoming alarmingly common.  It says that the counterfeit side continues to grow, and since 2013, the international counterfeit make-up trade has steadily increased and was estimated to be worth $5.4 billion in 2016, according to the OECD.  As well as the economic effects, fraudulent cosmetics have been found to contain known carcinogens such as arsenic, beryllium, and cadmium; others have exhibited high levels of toxic heavy metals like lead and mercury.  It says that he growth in counterfeit make-up products is further exacerbated by the proliferation of online third-party marketplaces.

https://sayari.com/blog/the-dark-side-of-beauty-an-overview-of-the-counterfeit-cosmetics-industry/

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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