Replica Wheels are exactly what the name implies. They are meant to be exact copies of OEM wheels and rims. Replica wheels aim to be at least 90% visually and structurally the same as the original. Because of this, a replica wheel can be equally durable as an OEM wheel. A proper replica wheel should also be indistinguishable from an OEM wheel.
Replica wheels are quite popular in the luxury and sports-car community. This stems from people being able to obtain good quality alternative wheels from reputable manufacturers. Although cheaply made replica wheels do exist, a good quality replica wheel will not be cheap. Even when compared to OEM wheels, good quality replica wheels will be much less expensive.
If you have any further questions regarding replica wheels, check out this article on OEM vs. Replica vs. Aftermarket wheels.