2024-07-27 12:00:28
The Olympics and counterfeits: Brands need to be vigilant
In the months leading up to the Summer Olympics, which will be held from July 26 to August 11, 2024, more than 1,300 customs officers have been trained on 6,000 official Olympic items to better identify counterfeit products. In fact, this period creates unprecedented opportunities for companies that decide to launch exclusive collections. These product launches, while financially promising, also increase the risk of counterfeiting.
Matteo Amerio, co-founder of Navee, stressed: This situation is particularly worrying. Such a large-scale incident has exacerbated the negative impact of the counterfeiting industry.» These risks include not only weakening consumer confidence, The increase in inferior products on the market also has environmental consequences.
The harm of counterfeit goods to consumers
Possession of counterfeit products can expose consumers to a variety of risks, including health and safety issues. In fact, counterfeit products are often manufactured without adhering to quality and safety standards, which can have harmful consequences. This is particularly important for items originating from the Olympics, as Olympic logos become a prime target for counterfeiters.
Furthermore, consumers may suffer losses if they fall victim to counterfeit goods, as these products may be seized by customs authorities and result in fines of up to twice the original value of the goods. This risk highlights the need for vigilance when purchasing, especially on online platforms.
Fighting against counterfeiting and shoddy products
Founded in 2019, Navee has positioned itself as a key player in the fight against this phenomenon. The company uses advanced artificial intelligence technology to quickly detect and eliminate counterfeit products on digital platforms. By analyzing more than 5 million images, it has helped more than 100 brands protect themselves from this scourge, saving them more than $500 million.
As the Olympics approach, Navee is stepping up efforts to encourage businesses to monitor online markets and dismantle counterfeit networks. She stressed that “buying counterfeit products may support illegal activities” and called on consumers to be vigilant to protect their safety and money.
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