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Hermes' CEO Patrick Thomas stated last week that 80 percent of the luxury goods purchased online are fake, Caijing.com.cn reported.

Hermes said French police discovered an international crime ring producing counterfeit

versions of its bags, and that 12 suspects were detained in Paris and Lyon.

The company has won $100 million in compensation from several Chinese websites involved in the crime, and several members of its staff were dismissed following the investigation, with two of them being arrested.

(China.org.cn June 28, 2012)