‘Counterfeiting causes financial loss to GTP’

Business News of Monday, 9 March 2015

Source: Graphic Online

Textiles Ghana

The Managing Director of Tex Styles Ghana Limited, Mr Kofi Boateng, has bemoaned the huge financial loss incurred by his establishment as a result of counterfeiting.

According to Mr Boateng, “Apart from losing market shares, counterfeiting does us more harm by destroying the image of our brand.”

Mr Boateng, who launched the GTP Authentication Service at a ceremony in Accra, said, “Counterfeiting does not only affect us as a business, but it also affects the economy and society as a whole – it affects employment, tax generation, development and growth of the country”.

He assured patrons of GTP products that the fabric would continue to be the cloth of choice for fashion, marriage, formal events, church service, work and everyday wear.

Mr Boateng said he was optimistic that the authentication service was a major milestone in the company’s fight against counterfeiting and implored all customers to help the company fight counterfeiting.

The Tex Styles Managing Director said it was against that background that the company had introduced the new value-added service which would empower consumers to determine easily whether what they bought were genuine GTP products or not.

The Director of Marketing, Reverend Steve Kofi Badu, said, ‘GTP now makes it even easier for customers to identify genuine GTP products from fake ones. The next time you go buying GTP, look out for a silver sticker on the label.”

According to Rev. Badu, in the past, counterfeiters simply stole the designs of GTP and put their labels on them, but in recent times, they did not only copy GTP’s designs, but they also copies GTP labels and all other trademark property.

He said it had, therefore, become very difficult for the ordinary consumer who wanted to buy genuine GTP products to tell which was genuine and which was fake.