Entruphy tool to fight against counterfeiting
Counterfeiting has always been a serious problem that many brands are facing. Counterfeit fashion products are widely available, leading to disastrous consequences to authentic brands. Entrupy, a technology to prevent counterfeiting, is introduced to solve this problem.
28% of Hermès products scanned by Entruphy are fake / Ph: pinterest
Brands lose their profits due to counterfeiting
So what effect does counterfeit fashion have on the fashion industry? Besides brand dilution caused by counterfeiting, fashion brands have to spend millions of dollars a year to fight it. Moreover, it also becomes a global problem as it reduces a huge amount of money on taxes and can affect consumers’ health. Thus, many companies are desperate to find solutions to counterfeit goods.
The Entrupy tool can help
Entruphy is a perfect answer to the question “how can information technology assist with the counterfeit problem”. It is a handheld scanner with an accompanying app which allows users to collect microscopic images of the item. Then it will determine if the item is “Authentic” or “Unidentified” within few seconds with Entrupy’s proprietary data.
According to the data collected by Entruphy tool, in 2018, 90% of items scanned by business customers were real, more than 5% compared with the statistic of 2017. Counterfeit goods in the market are mostly bags of exclusive brands. Using Entruphy tool, people detect that 31% of Goyard bag in the market are fake, while the rate of other brands are: Hermès (28%), Celine (21%), Balenciaga (21%), Fendi (18%), Dior (17%), Chloe (15%), Saint Laurent (14%), Chanel (11%), Gucci (10%),…
The percentage of counterfeit fashion products is affected by several factors, including consumer’s demand and the availability of the authentic product. In Entrupy report, it claims that the high percentage of fake Goyard and Hermès is the result of consumer’s huge demand for products from these brands. As long as customers still want counterfeit products, there is always a room for counterfeiters.
Counterfeiting is no doubt a truly global problem, causing enormous consequences to consumers, authentic brands and the economy. With Entruphy tool, now you know how to protect your brand from counterfeit.
The companies call this new promising payment method as “buy now, pay later” feature. The payment service Klarna provides this platform without the requirement of any extra fees from customers. The Executive Officer of Beauty Bay – David Gabbie...
Mikayla Holmgren brought home two awards : the Spirit of Miss USA Award and the Directors Award.
Luxury fashion house – Bulgari celebrated the re-opening of Bulgaris New York 5th Avenue flagship with an in-store cocktail reception, preceding dinner at the Met. An evening defining both ancient and modern.
Living coral has been chosen to become Pantone’s color of the year in 2019 to protect the environment
Pantone is considered a standard color reference system and the main communication language in the global design industry. Each year, they choose a color that represents the year. Ultra Violet was selected as the color of 2018, a...
The Senior Customers now Are Increasingly Shopping Online Customers aged 50-69 are increasingly shopping online with their spending money via mobile apps. The data from website Auction showed that online shopping by senior customers have more than doubled than...