Customs seizes fake designer bags worth P700M

Counterfeit designer bags estimated at P700 million were seized Wednesday from a warehouse in Binondo, Manila, according to Customs Commissioner Angelito Alvarez. The knock-off bags bearing trademarks of Louis Vuitton, Gucci, Chanel and Burberry were confiscated in a raid led by the Bureau of Customs Intellectual Property Rights Division, along with representatives of the Louis Vuitton and of Immigration and Customs Enforcement of the US Department of Homeland Security. The authorities staged a morning raid, according to GMA News’ Quick Response Team news cast.
For the latest Philippine news stories and videos, visit GMANews.TV Last August 4, the BoC raided another warehouse in Divisoria which allegedly supplied the retail stalls in the bargain district. Seized in the raid were P300 million worth of fake branded bags and wallets, according to Customs Intelligence and Investigation Service director Filomeno Vicencio Jr. To get an idea of how much a genuine designer bag is worth, GMA News Online inquired by telephone with the Louis Vuitton branch in Greenbelt 5, Makati City and learned that among the items on their catalogue the popular Speedy 30 monogram canvas handbag goes for P40,800 while another bestseller handbag made of leather sells for P67,000. — With Earl Victor Rosero/VS, GMA News