In the jewellery industry, counterfeiting poses a significant and multifaceted problem, undermining the integrity of established brands and eroding consumer trust. According to Statista, over 1.9 billion euros was lost in sales due to counterfeit jewellery and watches in 2020. Furthermore, the British Hallmarking Council, reported a third of “gold” jewellery sold online in the UK is suspected as fake. The proliferation of counterfeit jewellery not only results in substantial financial losses for genuine manufacturers and retailers, but also dilutes brand identity and reputation.
Consumers, enticed by the allure of significantly lower prices, often find themselves at the receiving end of poor-quality imitations that bear little resemblance to the craftsmanship and heritage promised by the genuine jewellery manufacturers.