Thousands of fake products seized at Ninh Hiep Market in Hanoi
Duong Ngoc Vien, head of the Market Management Team 14, said the businesses would face a fine of over VND300m (USD12,800) for the fake products worth over VND1bn. The products will be destroyed in accordance with the laws.
"Traders often came here to buy goods and sold them to people with low incomes who can't afford genuine luxury brand products," Vien said.
Clothes with Christian Dior label were sold for VND60,000 (USD2.50) to VND100,000 per item while the price for a genuine item is around USD600.
Meanwhile, the wristwatches in Ninh Hiep were sold by the kilo. A kilogramme of various types of watches is sold for some hundreds of thousands of VND to over VND1m. That means a watch worth around VND100,000 no matter which brand it is.
The average price for a Hublot watch is USD17,000, USD8,000 for a Zenith watch and USD2,300 for a Tag Heuer.
