On this street in southern China, you can visit Starbucks Coffee – or rather, ‘Sffcccks Coffee’

On this street in southern China, you can visit Starbucks Coffee – or rather, ‘Sffcccks Coffee’

Thursday, 09 January, 2014, 7:08pm

Jeremy Blum jeremy.blum@scmp.com

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A “street of fakes” in Wuxi has drawn ridicule and condemnation from Chinese netizens

A “street of fakes” has sprouted up in the southern Chinese city of Wuxi, featuring signs that flaunt modified names of famous international stores like Starbucks and Zara.On this commercial street, located near the Wuxi East Railway Station, clothing stores Zara and H&M have morphed into “Zare” and “H&N,” American electronics company Apple is “Appla,” Starbucks Coffee has become the bizarre sounding “Sffcccks Coffee” and even the Industrial and Commercial Bank of China has made an appearance – only with one of the characters of its Chinese name removed and replaced with another, rendering the name nonsensical.

H&M, Zara and even the Industrial and Commercial Bank of China have all undergone tiny tweaks to their names. Photo: Chinanews.com [1]

All of the store signs displaying these famous names are written in fonts that make them appear similar to the real deal from a distance, and China’s netizens have quickly taken to calling the area a “street of fakes” or a “shanzaistreet.” Shanzai is the Putonghua word for knock-off.

“How could the people that put these signs up possibly be proud of such a thing?” one commentator wrote on Chinese news portal Wenxuecity.com [2]. “They are completely ignorant of intellectual property rights.”

Local reports claim that the stores displaying the shanzai signs are actually all empty, and the entire street is property available for purchase by shop owners or landlords. According to reports from internet portal Sohu.com, real estate representatives for the street told reporters that the signs were “pre-made advertising images designed to create a shopping atmosphere” and appeal to prospective property buyers.

All of the shops on this “street of fakes” are empty, local reports claim. Photo: Chinanews.com

“The real estate operators in charge are engaging in misleading behaviour and should stop this infringement,” said Zhao Jia, a local lawyer interviewed by Sohu.com.

Despite this warning, copyright infringement is common in the mainland, and local stores and products have frequently copied the logos or fonts of international brands for recognition purposes. Photos of Chinese stores such as “KLG” (a chicken restaurant similar to international fast-food chain KFC) and “Sunbucks Coffee” (a coffee shop resembling Starbucks) have been virally shared on the internet for years.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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