Gardai 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 on Monday and the Crumlin man who is suspected of being behind the operation was not arrested, but sources said that he may face future prosecution.
Gardai 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.
"Gardai from Kevin Street District Drug Unit, National Bureau 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 gardai 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.
Over the last few weeks, gardai have conducted a number of searches targeting counterfeit goods in the run-up to Christmas. As part of their operations they have seized goods worth hundreds of thousands of euro.
Detectives have established two main targets they suspect are importing the merchandise for sale.
One of them, an Asian man with no criminal convictions living in Ireland, is 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. Gardai believe they were going to sell the fake goods in these shops after attaching fake labels.
Sources said more garda raids could happen in the next week.
Gardai 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, a massive consignment of hair straighteners was impounded at Dublin Port in an operation targeting a north inner city gang.
In November, 59,000 bottles of counterfeit perfumes and aftershaves were intercepted by customs officers at Dublin Port in a €2m seizure.