2 Jun 2016 – The global luxury market has been expanding steadily, reaching an impressive US$254 billion in 2014. From yachts, wines and hotels, to perfume, jewelry and clothing, demand for quality and exclusivity has significantly contributed to the growth of the luxury and fashion industry.
Fashion and intellectual property (IP) have always been inextricably linked in some way. Throughout the world, IP laws aim to protect the original and unique creations of designers or inventors and the brands under which these products are sold. At the same time, as sales of luxury goods in emerging markets continue to grow, and with increasing scrutiny from regulators, the luxury and fashion industry must take proactive measures to better protect itself from compliance risks arising from anti-corruption, anti-money laundering and data privacy considerations.
Mr Lim Ren Jun, Local Principal at law firm Baker&McKenzie.Wong&Leow presented to the Luxury & Premium Retail committee the IP and compliance developments in the luxury industry as well as strategies on how to address issues such as:
- Protection of Store Layouts/Concepts
- Protection of Well Known Marks
- On-line Counterfeiting
- Reporting Obligations under Anti-Corruption and Anti-Money Laundering Regulations
- Compliance with Data Privacy Obligations
For more French Chamber Luxury & Premium Retail events, visit http://www.fccsingapore.com/committees/luxury-premium-retail
For more French Chamber Legal & Tax events, visit http://www.fccsingapore.com/committees/legal-tax