BIZ BUZZ: Cosmetics industry puts a gloss on fight vs fakes
The battle against fake cosmetics gets a major boost as the Chamber of Cosmetics Industry of the Philippines (CCIP) officially joins the Intellectual Property Office of the Philippines’ (IPOPHL) e-commerce initiative.
IPOPHL said that CCIP signed the memorandum of understanding (MOU) last week, further strengthening efforts to crack down on counterfeit beauty products flooding online marketplaces.
“Originally conceived as a stopgap measure, the MOU has proven to be an effective tool that gives us the fighting chance to race against IP violators who flood platforms with fake cosmetic products,” IPOPHL Deputy Director General Nathaniel Arevalo said in a statement.
With the cosmetics industry increasingly targeted by counterfeiters, CCIP’s participation signals a united front in protecting brands and consumers from illicit, potentially harmful products.
The collaboration expands IPOPHL’s network of industry allies, reinforcing its mission to safeguard IP rights and ensure a safer, more trustworthy e-commerce landscape for Filipinos.
According to the IPOPHL, there was an estimated $617.8 million worth of counterfeit goods seized in the country from January to September 2024, exceeding the preceding year’s $471.4 million total.
