We love our fake luxury – even if we're supporting organised crime
Is imitation truly the sincerest form of flattery? The luxury goods industry apparently doesn't see it that way, with billions being lost each year to the trade of counterfeit goods.
Where once the ladies who lunch considered it de rigueur to have a designer handbag hanging off their tiny wrists, it is now considered both foolish and flashy. Equally their husbands' shiny Rolex watches, once viewed as a symbol of success, are no longer admired, unless of course they are fake.
According to research carried out by Pricewaterhouse Coopers (PwC), the upper and middle-classes are now snapping up fake designer handbags, shoes and watches as fast as they can say Christian Louboutin.