Is that Gucci bag you're carrying really a Gucci? How about that Cartier watch you're wearing?

If you've resorted to buying a fake to get your hands on that expensive designer label you crave, then you're not alone.

And a survey suggests that you'll be perfectly willing to admit that it's not the real thing.

Researchers say that up to two-thirds of us claim we are proud to buy fake goods - up 20 per cent on last year.

Even wealthier shoppers are cashing in on the cheaper versions and are happy to have them sitting next to genuine designer goods in their wardrobes. The market is now worth an astonishing ￡14billion each year, a 10 per cent increase on 2006.

Globally, the figure could be as high as ￡200billion. Most purchases are made at market stalls in Britain, but a large number are made abroad or come through Internet auction sites.

More than three million British adults bought fake luxury items last year. The most desirable brand was Louis Vuitton, followed by Gucci, Burberry, Tiffany, Prada, Hermes, Chanel, Dior, Yves St Laurent and Cartier.

Most popular items were clothing, then shoes, watches, leather goods and jewellery.

The market is not being fuelled solely by those unable to afford designer goods - one in five purchases was made by households earning more than ￡50,000 each year.

Purchases in India and the Far East rose by around half in the past year. There were also increases in China and Europe.