Luxury Foods Industry: Not Safe From Counterfeits
Luxury foods are the foods which are rare, expensive or have a complex manufacturing process and in some instances receive protected regional origin status. The global luxury food and regional delicacies business involves the elaborate preparation and presentation of gourmet food, which is made of high-quality premium ingredients. The global luxury food market has seen demand rise due to rising levels of disposable income, consumer awareness of the importance of nutrition, and the globalization of regional luxury foods.
Meanwhile, it is recognizable that some lawbreakers target at these high end products due to the tremendous profits achievable from such luxury foods. This illegal business not only put people in danger but also damage brand owners’ reputations and profits. In this document, we will use examples like mooncakes, saffron and cigars in an effort to provide further insights into the consequences counterfeits have on the industry.
Mooncake
Mooncake is a seasonal delicacy of China. With the costs of living increasing every year, the mooncakes are becoming more exquisite and expensive. In the meantime, counterfeit mooncakes appear due to the tremendous demand and the profits achievable.
During last Mid-Autumn Festival, at the Longxi market in Shenzhen’s Longgang district, reporters from the newspaper found hawkers still selling counterfeit mooncakes masquerading as products of Hong Kong’s Maxim’s Group and Wing Wah Food Manufactory Ltd., despite a recent crackdown by local authorities.
The hawkers claimed the mooncakes were imported from Hong Kong. However, they cost as little as HK$100 (US$12.90) per box of four, about half the price of the genuine mooncakes in Hong Kong.
The counterfeits’ packaging has the correct QR codes, but they did not carry the anti-counterfeiting labels that only the original products had.
The genuine mooncakes are closely imitated by the fakes, which are readily found in Longxi market in Shenzhen (right). Photos: Apple Daily