$31 million worth of fake Nike and Adidas sneakers were recently seized by Chilean officials at the Port of Iquique.
Customs officials became suspicious of the shipment, which was labeled as a container of napkins, due to discrepancies in the accompanying paperwork. Upon inspection of the container, they discovered 16,454 pairs of fake sneakers buried within.
The goods were originally shipped from China and were heading towards the Zona Franca de Iquique – known by the acronym “Zofri” – which is South America’s largest free trade area, and a favorable shipping route, as its tax-free policy enables companies to avoid double taxation.
The shipment was declared with a customs value of $24,209. However, according to Chilean customs, the retail value of the counterfeit goods is estimated to be upwards of $31 million.
You can read more about the bust at The Fashion Law.