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Acviss develops “design labels” to track counterfeits, eliminate fake products
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Thursday, 08 December, 2022, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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World’s foremost brand protection company, Acviss Technologies has developed a technology for FMCG brands to curb counterfeit in their industry. India has seen a spike of 24% in the counterfeit cases, whereas the FMCG sector alone has seen a spike of 63% in the last few years. The anti-counterfeit solutions provided by the company have been successfully able to curb 99% of the counterfeits.
Hing or asafoetida is one of the most commonly used spices in all Indian kitchens. Not only is hing a huge consumable in households but also in restaurants, packaged foods and is also used in India as a spice with medicinal properties. However, not many people are aware that the asafoetida industry is also one of the most widely counterfeited industries, where people consuming this spice are not even aware that they are consuming fake hing on a daily basis.
A pioneer and one of the leaders of the asafoetida industry space who had been a victim of counterfeit products took resort to the anti-counterfeit solutions developed by the company. Being India’s compounded hing manufacturers since late 1800s, the company has always been known in the industry for its uncompromising qualities. However, the company had lost major revenue, brand value and customer loyalty due to counterfeits. As a solution to this problem, the company has incorporated the design labels developed by Acviss as a part of their packaging for their products. Once the product carries the label, an end consumer or anybody in the supply chain can then verify the product and understand if it is genuine at any given point in time.
Speaking about this, Vikas Jain, founder, Acviss Technologies, said, “We are happy that Acviss Technologies has been able to provide its solutions to an industry which is so crucial for the masses. Asafoetida or hing as we commonly call it, has been a part of our food culture since ages. Counterfeit in such products not only affects the concerned brand and the industry but also the consumers. Using products which are not in accordance with health guidelines or have undergone zero quality checks are hazardous for the consumers. I am glad that Acviss could contribute in developing solutions which are useful to a large sector of FMCG products as well as the common man.”
With the help of the solutions provided by the company, the counterfeits were cut off by 99%. Along with this, the company was also able to track the counterfeit sources and get rid of the problem from the roots. This in turn has helped the company regain and retain its brand value as well as its revenue.
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