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Birkenstock Targets Counterfeiters in India with Court-Backed Factory Raids

German footwear giant Birkenstock has launched a major legal offensive in India to combat the growing trade in counterfeit sandals. Following an internal investigation that uncovered fake Birkenstock products being manufactured in and around Agra, the company filed an infringement lawsuit in the Delhi High Court in May. The court responded swiftly. On May 26, Judge Saurabh Banerjee authorized ten court-appointed commissioners to conduct surprise inspections of suspected factories in Agra and New Delhi. These visits, now completed, resulted in the seizure and sealing of allegedly fake products bearing Birkenstock branding. The judge noted that the counterfeit sandals were nearly indistinguishable from genuine ones, posing a serious risk of deceiving consumers. The next hearing in the case is scheduled for October 6. Birkenstock’s crackdown comes amid a broader wave of intellectual property enforcement in India’s footwear industry, with brands like Crocs and Prada also pursuing legal act...

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Crypto Stocks Fall, Erasing Gains From Bitcoin-ETF Approval

 

The cryptocurrency market experienced a sharp decline on Wednesday, erasing gains from the recent approval of a Bitcoin ETF. The pessimistic market sentiment regarding the approval of a Bitcoin spot ETF between January 8-10 led to a general decline in digital currencies. The Bitcoin price, which moved above $45,000 on Tuesday for the first time since 2022, tumbled 5% vs. 24 hours earlier to $42,750. Cryptocurrency exchange Coinbase fell about 3% while Bitcoin miner Marathon Digital pared early losses, gaining 2.2% Wednesday during market action. Fellow crypto-related play ProShares Bitcoin Strategy ETF sank 5%. Grayscale Bitcoin Trust fell 4%.

The decline in crypto stocks is a reminder that the cryptocurrency market is still highly volatile and subject to sudden changes. Investors should be cautious and do their due diligence before investing in cryptocurrencies.





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