US-based Korean Start-up tackles counterfeiting on marketplaces

Counterfeiting is one of the biggest sources of dirty money on the planet. And it does not only affect the field of luxury goods. It also concerns the production and sale of medicines and even spare parts for aircraft! To discuss this, Visionary Marketing interviewed Emmanuel Alavoine, Head of Expansion at Marqvision, a US-based Korean start-up that in just two years has managed to forge partnerships with the biggest brands. Its co-founder also told us that the start-up could well become one of the next American unicorns. Here is the transcript of our interview, recorded during the Tech for Retail exhibition in Paris, of which we were media partner. Marqvision Tackles Counterfeiting on Marketplaces Emmanuel Alavoine at the Tech for Retail show on 28 November 2022. Counterfeiting would represent more than 3% of world trade according to the OECD, a figure that is constantly increasing. Counterfeiting: “the world’s biggest economic blight” “It is the world’s biggest economic blight. Counterfeiting surpasses even the organised crime of prostitution, arms dealing and drugs,” Emmanuel told us. The OECD, in its 2020 report, estimates that the value of counterfeiting is €300 billion per year. “When we cumulate in value for the consumer, the damage is estimated at 3 trillion euros per annum,” Emmanuel Alavoine said. When you think of organised crime, you immediately think of drugs and prostitution. But counterfeiting is worth much more: 300 billion euros, the equivalent of Belgium’s GDP. Counterfeiting is therefore a real scourge of organised crime, often in the hands of the mafia Counterfeiters use all the methods of modern commerce, to piggyback on the fame of a brand they don’t own Counterfeiting doesn’t just affect the luxury goods industry It affects a wide range of industries and brands of varying reputations. Among the products affected is indeed luxury, with brands from the sector’s major groups, French, Italian, British and Spanish. “For this sector, it’s about traditional copying of iconic brands.” But counterfeiting also affects pharmaceuticals, food, hygiene, beauty products, kids’ toys, clothing and sports goods.