Determine your purpose. Are you concerned with quality and performance, appearance, or do you simply need a sleeping bag that will last through a two-week trek into the Everest region? If you are set on buying genuine brand name goods, your job will be harder but not impossible. Most trekking gear sold in Kathmandu will last for the duration of a trek, so there is no need to worry about your jacket falling apart halfway to Mt. Everest.
Learn to spot a fake. This is a difficult endeavor, considering the massive mix of genuine and fake trekking articles for sale in Kathmandu. You'll notice immediately the difference between a good fake item and a shoddy fake item. As an initial indicator, look at the logo to be sure that is the same size, proportion, and quality that is normally found on genuine articles of the same brand. Check the tag for the standard company branding, and look out for non-existant (but believable) product line names.
Look for quality construction. Even counterfeit trekking gear can be made to high quality standards, as it is often produced in the same factories as the genuine articles. Look for seams that are splitting or fraying, or that look unstable. Inspect the cuffs of jackets and pants, and be sure to test any high-stress seams by pulling the fabric outward from the seam.
For guaranteed quality, shop branch outlets. The North Face, Lowe Alpine and Patagonia all have shops in Kathmandu on the edge of Thamel near the national park office. The prices are higher, but trekking gear sold there is guaranteed to be genuine.
Barter with shop owners. Without fail, Kathmandu vendors will quote an initial price that is far and above what the item is worth and what they hope to sell it for. Decide in advance how much you are willing to pay for an item and barter with the vendor. If he or she refuses to offer the price you can pay, employ a tried-and-true bartering strategy--walk away. If the vendor is able to sell the gear for a lower price, he will likely call out to you as you leave. After a few rounds of bartering, you'll get the hang of it and a feel for the general prices of items in Kathmandu.
Accept limitations. Chances are good that you will end up, by choice or accident, with at least one item that is not genuine. Items may seem to be good quality but may fall apart upon use. Keep a sense of humor about the process and remember that the low prices are probably an indicator of quality. Buying trekking gear in Kathmandu is an adventure in itself.