Press Release: March 01, 2010
Counterfeit Goods on the Web: PriceMinister leads the way in Europe
logo_en2PriceMinister, a prominent online marketplace in the UK and the leading e-commerce website in France, has recently announced a market leading strategy to protect consumers from counterfeit products, making it one of the safest places to buy on the internet.
In November 2009, statistics in the fourth edition of the CtoC study of PriceMinister/LaPoste by OpinionWay showed that there is more pressure from European consumers for protection against fake goods:
36% of shoppers believed that the fear of counterfeiting has limited the amount of ecommerce on the internet (or a 1% increase compared to 2008)
26% of shoppers expect better protection against counterfeiting on the internet (or a 9% increase compared to 2008).
PriceMinister, an organisation with an already fierce policy against fake products, signed a Memorandum of Understanding (MoU) in December 2009 with Christine Lagarde, Minister of Economy in France, to fight against counterfeit goods on the internet, in partnership with luxury brands and professional associations from around the globe.
The MoU, the first of its kind in Europe to associate online marketplaces and various industries including luxury, high technology and sporting goods, was drafted by Bernard Brochand (MP) and Professor Pierre Sirinelli, and creates a framework of cooperation between websites and rights holders to implement tools to identify and fight the selling of counterfeit products on the internet.
Before this MoU, PriceMinister has established an Anti-Counterfeiting Guarantee which gives consumers more information about counterfeiting on the internet and protects them from such products.
We welcome the signing of this MoU, which is evidence of the protection that PriceMinister has given consumers, users and brands for several years; said Pierre Kosciusko-Morizet, President and cofounder of PriceMinister, collaboration between all parties remains the most effective fight against counterfeiting on the internet.
In recognition of the work done by PriceMinister, the company was presented with an award by the Global Anti-Counterfeiting Group (GACG) for its actions against counterfeiting at the Global Anti-Counterfeiting Awards held on June 16th 2009.
PriceMinister also participates in the work currently underway within the European Commission, which is rolling-out similar action across various European countries.
The measures implemented by PriceMinister to date have ensured that 98% of all counterfeit products detected were never visible on the site. The subsequent number of accounts that PriceMinister has blocked, has also increased. During 2008, PriceMinister blocked 2625 accounts due to infringement or violation of selective distribution networks. This figure was up 45% compared with 2007.
On all invoices submitted by vendors suspected of counterfeiting:
- 41% of sellers reported being supplied from other online marketplaces
- 25% reported having procured the property directly from a Chinese website, 13% from a supplier in France.
- 10% said that the product was a gift.
In 2008, 59% of counterfeits detected by PriceMinister concerned the fashion industry. This included clothing, leather goods, watches, perfumes and cosmetics. Electronics (including phones, MP3 players, software, etc.) represented 37% of counterfeits. However items like books, puzzles and toys were not as affected.
More importantly, 2008 was marked by a strong growth in high-tech counterfeiting with an increase of +170%, against an increase of 13% for fashion.
Apple products were top of the list of fake products identified in 2008, followed by perfumes, Microsoft and then Nike. The top twenty on the list were:
9. Dolce & Gabbana
11. Ralph Lauren
14. Yves Rocher
20. Hugo Boss
Launched in France in 2001, and employing over 200 people, PriceMinister also operates rapidly growing operations in Spain, Belgium and Switzerland. Founded by Pierre Kosciusko-Morizet, Pierre Krings, Justin Ziegler, Nathalie Gaveau, and Olivier Mathiot, it has seen three-digit growth since the business started, and is aiming to be in the top five UK sites by the end of 2010. In December 2009, the site had over 10.3 million members and offered more than 130 million products for buying or selling. Many new customers have been attracted to PriceMinister due to the tough stance the organisation takes against counterfeit goods.
Notes to Editors:
For more information please contact Erica Tennant at Blueclaw Media Ltd at firstname.lastname@example.org or call 01582 487 223.
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For more information about PriceMinister visit www.priceminister.co.uk