Counterfeiting continues to plaque the luxury sector and will cost global apparel and accessories brands more than $30 billion this year. Not only is there a robust black market to worry about with fakes everywhere, but brands also have a huge issue with the grey market. I recently worked with a global luxury brand of highly coveted shoes and handbags that was looking for a solution to provide brand authentication and security in collaboration with their luxury assisted factory where unauthorized women’s’ bags were being produced.
This iconic brand wanted to certify their luxury products starting with design and extend that protection all the way to the consumer. Not only did they want to protect their brand value and heritage holistically, but also wanted to ensure the integrity and beauty of their goods and provide item level traceability throughout the product and customer life journeys. With new emerging technologies, its now possible today to take basic product and turn them into “smart products’ by embedding an invisible technology into the design and enabling visibility and traceability during the full life cycle of the supply chain. It not only enables brand protection against grey and black market goods with item level authenticity, but also industry 4.0 with automated manufacturing, after-market retail and all the way to post-sales personalized customer services. With RFID chips and eThread we have also seen double-digit sales increases on the shop floor almost immediately after integrating the technology, simply because they are able to restock their products more accurately and efficiently. RFID has been redefined and there is much more to come!
Light up product, people and brand passion – Alain Fanet, CEO of CXignited