CODY, Wyo. -(Ammoland.com)- The American Knife & Tool Institute (AKTI), a nonprofit trade association representing the entire knife community, continues to address the problems of counterfeit knives for consumers and the industry.
Counterfeit products plague every industry and threaten U.S. businesses’ ability to compete and exist.
Inferior products can harm individuals and the affected brand and leave consumers without any type of warranty or available servicing.
“It is a well-known fact that counterfeiting costs U.S. businesses approximately ten percent of their revenue every year,” said Rod Bremer, chair of the Anti-Counterfeiting Committee of AKTI, and Chairman and Founder of CRKT. He added, “We conservatively estimate that counterfeit products cost the sporting knife and tool industry around $95 million annually, based on the latest AKTI State of the Industry report.”
Counterfeits not only mean lost revenue and jobs for U.S. companies, but they also create increased costs dealing with increased customer service issues, legal fees, monitoring of counterfeiters, and erosion of the image of their company and brand.
The efforts of …Read the Rest