The luxury sector has always faced major challenges and stirs up envy.
Historically, counterfeiting and more recently the second-hand market constitute challenges that cannot be overlooked by brands and public authorities.
Counterfeit bags, watches and jewelry flood the market every year. It is estimated that the related losses are around 1.9 billion euros per year, due to the presence of counterfeits, in particular on the European market.
The second-hand market is expected to represent nearly $ 42 billion in 2023.
The evolution of the luxury sector for thirty years with its large groups which concentrate many watchmaking houses, its niche players, its authorized or non-authorized dealers, its specialized second-hand marketplaces, its collectors-dealers, all these components make it difficult or even impossible, a harmonization of practices to fight against these scourges.
While depriving not only of market share with genuine market players, counterfeiting seriously damages the image of brands and agents.
Based on these observations, it seemed obvious to us that computer technology had to take its place and provide a simple and readable answer.
This technology had to bring together all of the following characteristics:
– Objectivity and transparency
– The lack of a central control body