No. Another name for "replica" products are counterfeit products. And selling counterfeit products is not only a wrong that the manufacturer can sue you for, it's also a crime.
No. Not even if you honestly disclose that your products are fakes. Especially not then, since that's admitting the trademark infringement.
Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.
Arguably, the primary value (outside of its practical use) of a 'designer' product is the design itself. That is the creative element that the designer has added to a bag, an article of clothing, or a pair of sunglasses. Replicas are aimed at directly copying that creative element, and the result is to profit off of somebody else's creative output. Worse yet, replicas are often much cheaper than the designer item, not only because the markup is less, but also because the product is simply cheaply made. If a person buys a poorly made replica, believing it to be the real deal, they are likely to come away from the purchase believing that the designer's goods are poorly made, when perhaps only the replica was poorly made. This directly hurts the designer's reputation and image among consumers.
Obviously, the both of the above issues are bad for designers and bad for consumers on the whole. As such, it should be no big surprise that the law prohibits this kind of activity, which it does.
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