Bonafi Supply Chain Blockchain Company - Fighting Counterfeit Goods

Originally published on Business of Fashion on June 30, 2016 by Helena Pike: ORIGINAL ARTICLE

Earlier this month, Jack Ma, chairman of Chinese e-commerce giant Alibaba, made headlines when he declared that counterfeiters can “make better quality, better prices than the real product.” Ma’s comment, made to investors at a company meeting, came during an ongoing dispute over Alibaba’s induction into the International Anti-Counterfeiting Coalition (IACC). After Alibaba joined in April, IACC members Michael Kors, Gucci America and Tiffany & Co. all quit the US-based lobbying group in protest over the sale of counterfeit goods on Alibaba and its affiliate sites. In May, the IACC suspended Alibaba’s membership.

Ma’s comments reflect how rapid technological advancements have made it possible for counterfeiters to mimic luxury manufacturing processes, techniques and materials to produce almost-authentic fake goods, which can then be easily advertised, sold and distributed online. In 2013, the market for counterfeit clothing was worth…

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