Counterfeit Olympics merchandise prompt police raids in Paris

Counterfeit branded clothing alone is estimated to have cost companies in France 1.7 billion euros ($1.83 billion) in lost sales on average each year between 2018 and 2021, according to the European Union Intellectual Property Office.

In the touristy Saint-Ouen flea market, not far from the Stade de France where athletes will compete in this summer’s Paris Olympics, police officers swarmed in at dawn on April 3 and shut down 11 stores selling counterfeit bags and shoes.