Problem and History
Counterfeit products affect many people and companies.
Counterfeit goods are a serious threat to the health and safety of consumers. Imagine a consumer buying fake car parts. This could make their car crash. Or if someone buys fake cosmetics; this can endanger their health and make them sick. Also, a large number of counterfeit shoes are produced and sold each year that endanger the health of consumers.
Many brands are experiencing tremendous losses due to
counterfeiting in the form of lost revenue, consumer dissatisfaction,
irreparable damages to the brand reputation, and so on. As per the
Global Brand Counterfeiting Report, 2018, counterfeiting globally
would reach more than USD 1.82 trillion.
Counterfeiting not only harms consumers and brands but also imparts a massive blow to the economy of any country. Counterfeiting has a direct effect on government expenses and tax revenues. It has an adverse impact on employment too, which is experienced by the retailers, suppliers, and supply chain.
Using our authenticity solution can improve people’s life in many ways.
Prevents the purchase of counterfeit goods by them
Brands and Manufacturers
Makes it possible for their customers to identify the authentic product from the counterfeit and reduces costs.
Market transparency dramatically increases and the law will be more respected.