As the counterfeit goods market starts to grow rapidly across social media, an overwhelmed luxury industry is struggling to come to terms with this complex online problem.
Earlier this year, the World Economic Forum and Washington Post published a report on the crippling impact counterfeit goods is having on the global luxury market. The findings were immense – almost a tenth of all sales lost by the industry was due to counterfeiting.
These days counterfeiters have a number of tools to showcase and sell their illicit goods online. Instagram - a firm favourite amongst luxury brands to promote new designer lines - is being flooded every minute of every day by counterfeit ads, using advanced techniques involving bots and algorithms.
It's clear that some in the luxury industry are failing to monitor the escalating volumes of social media data promoting these goods. In a follow-up report, the World Economic Forum said brands and companies were losing a ‘widespread war without even realising it or doing anything serious about it’.
Brand Attacks, Trolls and Escalating PR Crises
Of course counterfeit goods aren’t the only major headache facing luxury brands online today. Other social media risks have become increasingly important to the custodians of valuable luxury brands.
Brand attacks for examples, including online lobbying or activist attacks, are also commonplace these days. Online petition sites such as change.org can now reach an informed audience within hours, with activist groups producing well thought out targeted campaigns using social media to share content in minutes.
Additionally, there is the escalating problem of abusive content online. Unwarranted and unwanted images of gore or sexually explicit videos can be easily posted in comment sections. The use of offensive language, targeted abuse or defamatory comments across social media channels against a celebrity ambassador is also sadly typical in today's anonymous online environment.
Join Our Lunch & Network Seminar For Luxury In London
Crisp protects some of the World’s leading luxury brands, ensuring their reputation is protected at all times against emerging issues on social media.
We are now hosting a special Brand Protection Seminar this November specifically tailored for luxury brands.
During it, speakers Steve Kunceswicz, Head of IP & Media at Bermans and Adam Hildreth, CEO and Founder at Crisp, will explore topics including: monitoring for IP Infringements & counterfeiting online, luxury brand attacks on social media, managing activist campaigns, impersonation accounts and cybersquatting. They will also discuss how luxury brands can report trademark infringements on social media channels.
So join us for some lunch, drinks and lively discussion:
Topic: Brand Protection & Anti-Counterfeiting For Luxury Brands
Venue: Searcys, The Gherkin, 30 St Mary Axe, London EC3A 8BF
Date: Tuesday November 8, 2016; 12.30pm - 2pm
Speaker Bio: Steve Kuncewicz, Head of IP & Media at Bermans and author of Legal Issues of Web 2.0 and Social Media
To secure your place, please fill out the form on the top right corner of this page.
(Book early as places are limited.)