Helping To Ensure Authenticity
Estimates value the global luxury goods industry at more than $300 billion a year, with global industry revenues on an extraordinary growth trajectory of 50% quicker than global GDP. Unfortunately, fake products are also doing a roaring trade.
The The Organisation for Economic Co-operation and Development (OECD) found a shift from high-value luxury items to common products and an expansion of the range of pirated luxury products. (Source: OECD 2007)
The startling growth in the luxury industry faces a known threat from counterfeiters. The scale of the problem is a continual challenge as they fight to maintain the levels of revenue growth that analysts – and the markets – have come to expect.
Technology has had a major impact and created networks of expert counterfeiters, who adapt quickly and distribute products in ways that are harder to detect and prevent than sales through more traditional channels. A European Commission report states that around 70% of all seizures of infringing counterfeit goods in the European Union in 2012 related to postal and courier traffic, most likely a result of online sales. (Source: World Trademark Review, 2013)
Many seizures concern luxury and branded goods, including shoes, bags, wallets and other items of clothing. However, the precise scale of the problem remains difficult to assess. Yearly estimate sales of counterfeit luxury goods are between $300 - $600 USD million. (Source: Business Insider, 2011)
"Officers with the United States Immigration and Customs Enforcement seized over 100,000 counterfeit merchandise products in the city of Chicago alone, during Fiscal Year 2012. The retail value of the counterfeit products was worth over $5 Million. In one raid alone, agents seized 12 vans filled with fake handbags with brand names of Louis Vuitton, Prada, Chanel, and Burberry purses that was being sold at a local flea market." Crain's Chicago Business, April 2013
This is just one harrowing reminder of the prevalence of counterfeit in the luxury industry.
Genuine luxury products can ensure their authenticity, protect their brand image and manufacture revenue through track and trace solutions.
blue-infinity works together with manufacturers and industry partners to deliver an end-to-end serialization, tracking and authentication solution, adapted for luxury companies:
- Serialization and registration of unique, non-repeatable codes
- Code configuration to contain product manufacturer, origin, type, batch information etc.
- Integration with existing production lines, including high-speed printing
- Integration with existing MES and ERP systems
- Ability to import government issued codes
- Data security and reliability
- Integration and coordination across numerous stakeholders throughout the supply chain
- Optimized reverse-logistics management
- Allows conformity for current or future legislative requirements
"Serialization and registration of unique, non-repeatable codes ... ensuring data security and reliability"