Pedestrians walk past the French multinational luxury fashion store CHANEL logo and store in Hong Kong in June 2024. Photo by Reuters
A gold and jewelry shop in central Vietnam has been fined VND55 million (US$2,088.08) and ordered to destroy its inventory for selling counterfeit Chanel brand jewelry.
The Gia Lai Province Market Management Department said it recently found bracelets bearing the logo of Chanel, a French fashion brand registered for protection in Vietnam, at the shop in Gia Lai Province.
The total value of the goods is an estimated VND35.7 million, it said, without identifying the business.
The department said all the jewelry was fake and lacked documentation for origin.
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Market authorities inspect a gold and jewelry shop in Gia Lai Province. Photo courtesy of Gia Lai Province Market Management Department |
The discovery followed a surprise raid. The department said it plans to continue inspecting gold businesses to prevent violations of intellectual property rights.
Vietnamese gold prices are up 76% this year to a record VND148 million per tael if 37.5 grams or 1.2 ounces.
