Lefkosa is a mecca for those in search of fake designer goodies, with all known (and some unknown) goodies purveyed at mucho resonable prices. Jeans can be re-labelled and re-buttoned to the designer of your choice, while you wait, and still cost under a fiver cypriot.
Notable designer watches include: Cartiear [SIC], Gucci and Tommy Hilfigger for under a tenner. Disappointingly, Tommy Hilfigger have recently put paid to this scam by producing their own watch, prior to this the only way you knew the watch was fake was because Tommy Hilfigger didn't make watches.
Discerning shoppers should also look out for Redbook trainers.