GardaÍ have seized €30,000 worth of counterfeit clothing and €25,000 in cash during planned raids in the capital.
The operation targeted a Dublin man who is suspected of being heavily involved in the illegal trade of counterfeit goods.
The operation took place yesterday, and the Crumlin man who is suspected of being behind the operation was not arrested.
Sources say he may face future prosecution.
Gardaí said the bust was part of Operation Thor and described it as "an intelligence-led operation into the distribution of counterfeit clothing in the Dublin 8 area".
"Gardaí from Kevin Street District Drug Unit, the National Bureau of Criminal Investigation and members of the Drugs and Organised Crime Bureau, conducted planned searches of a lock-up in Meath Street and a house in Drimnagh," a Garda spokesman said.
The raid happened just days after gardaí made a large seizure of alleged counterfeit goods from street traders at lunchtime last Thursday.
The clothing seized on Monday was mostly sports items such as tracksuits and sweatshirts. The clothing bore fake logos for brands such as Nike and Adidas.
Over the past few weeks, gardaí have conducted a number of searches targeting counterfeit goods in the run-up to Christmas and as part of their detailed operations have seized hundreds of thousands of euro worth of goods.
Detectives have established two main targets they suspect are importing the merchandise for sale. One of them, an Asian man living in Ireland who had no criminal convictions, was a "major player" in the sale and supply of fake goods to the Irish market, senior sources said.
The other "significant targets" are two Irishmen who own stores in Ireland. Gardaí believe the two men were going to sell the counterfeit goods in these shops after attaching fake labels.
Sources also say that more Garda raids could happen in the next week.
Garda�� previously ran an investigation called Operation Camac, which was set up in 2011 to target individuals involved in the production, distribution and sale of counterfeit merchandise.
Earlier this month, it was revealed that customs officers had impounded a massive consignment of hair straighteners at Dublin Port in an operation targeting a north inner city gang.
In November, it emerged that two containers holding 59,000 bottles of counterfeit perfumes and aftershaves were intercepted by customs officers at Dublin Port in a €2m seizure after being brought here by a major Chinese criminal gang.