Are you a brand that has just been introduced to the market and scared of your product getting sold illegally? Or are you an established brand that is regularly victimized by counterfeiting? Do you incur regular losses in business owing to counterfeiting or having trouble winning the trust of your customers? Then you are not alone as many businesses are susceptible to either of the above. Although counterfeiting has been around for a long time, the advent of technology has intensified the activities of illegal trade more than ever before.
For most millennials, the collection of Trading Cards remains one of the fondest childhood memories. Trading cards that were a rage back in the 90s and early 2000s, still appear to enjoy the same amount of popularity.
A lot goes into the manufacturing of a product; especially with the luxury market, each product that goes out is the result of countless brainstorming, designing, and skilled craftsmanship. Imagine these products that are crafted by the manufacturer being sold in non-approved distribution channels instead of making it to the actual market it is meant to be sold in.
The global fashion industry is finally recovering its footing after being hit by major disruptions emanating from the COVID pandemic of the last two years. The industry that spent decades turning design, aspiration, and high-quality goods into a $3 trillion global behemoth went for a toss when COVID came knocking.
We are living in one of the most prolific times of human history – technological advancement has been one of the biggest gifts to mankind. While we owe a lot to it, we cannot turn a blind eye to the fact that this development also becomes a nightmare to brands at this time. While the growth in technology has given brands an opportunity to create a place for themselves easily and increased their reach by blurring geographical limitations, it has also created the problem of brands maintaining their identity and authenticity both off and online. This has a lead to a situation the issue of brand protection has now been brought to the fore.
Brand Protection – For brands, counterfeiting poses a business, legal, and ethical issue. While counterfeit products make the brand less competitive in the market, they also open room for uninvited lawsuits from customers, organizations, and government agencies. At the same time, it raises an ethical question; are you, as a brand, doing enough to prevent counterfeiting of your products? It is not a healthy situation when it is easier to grab counterfeits of your product than the actual product – you are creating an environment of distrust for your customers.
Dormakaba, the world leader when it comes to the manufacturing and deployment of smart access solutions such as door hardware, entrance systems, electronic access and data, mechanical key systems, lodging systems, safe locks, among others, is adding another layer of product authenticity to its kitty. The company is making use of Cypheme’s state-of-the-art anti-counterfeit solution to prevent any form of diversions or sub-standard imitations of its products that may occur in the future. This is a step taken by the company to maintain its high-standards, and make it impossible for counterfeiters to even attempt faking its products.
Modern marketplaces have come with their own ills, and chief among them is the increased spate of product counterfeiting. The advent of consumer technologies such as online shopping which were intended to make the lives of people easier has brought with it the menace of both physical and online creation and proliferation of sub-standard product imitations by unscrupulous actors.
