I am not a big fan of knock-off products. In my experience, knock off products sit in a sort of limbo that they charge more than an "affordable brand" of the same quality but do so at the expense of the name of a luxury brand.
For instance, lets use ROLEX as an example.
A basic cheap knockoff that most reasonable people can spot from far away could be $100-$200 USD, but at that price, you can get yourself a nice workhorse Seiko 5 or similar that is a better quality and finish than a cheap knockoff.
Similarly, you can go for a "replica class" Rolex that would fool most people at a glance, but those are often in the range of $800-1500 and at that pricetag you can get yourself pretty awesome pieces from brands with history (such as Tissot, Certina, MIDO, Ball, Seiko and on the higher end maybe even a cheap and/or second hand ORIS and Longines).
You see, when considering a replica, the alternative shouldnt be "the real deal", the alternative to a replica rolex is not "a real rolex" but rather, something that cost similar to the "replica rolex" and in that regards, the replica almost always loses to alternative brands in the same price range.
To me, the only reason to use a replica/knockoff is if you want to trick others into thinking you spent more than you actually did. Some people say, well I own a real Rolex submariner, but that shit cost $18k so I got myself a second, a replica submariner for $800 and I wear that knowing that I also have the real one at home safe and wont lose value if I scratch the bracelet or crystal. I guess that is an option, but really, if you are afraid of "wearing out" your watch, perhaps you bought more watch than you can afford. These items are not "investments" to the extent some expensive purse or a watch can raise in value, it is often a speculative affair that can end at any time and without warning.
I own some luxury items, so believe me this is no judgment or chastizing.
Then there is the issue of craftmanship. Not all, but many of the luxury brands actually hire the best, and they pay good salaries to have the bests. The watchmaker that assembles the Jaeger Lecoultre is not an imigrant stuck in a bedroom 20h a day getting paid less than minimum wage.
The care and craftmanship that goes into some of these products is incredible. Take for instance this video of a guy making a simple "wallet".
It is hard to tell with all the video editing, but I cannot imagine he took less than 1-2 hours to make it but perhaps even much more. At a reasonable $20/hr salary, and assuming ~$20 for materials/equipment cost and then another $20 for advertisement/storage/taxes/fees/etc... this tiny insignificant "wallet" made by a skilled and careful worker could very well cost $100+, if done in this manner. Now, a factory might get you something 90% as good or you could have pseudo-slaves make it for less than minimum wage and get it for way cheaper but that is the tradeoff that you are taking.