The challenges faced by manufacturers due to counterfeiting

There has been a sharp rise in the number of fake products across the globe. Counterfeiting is impacting consumers, manufacturers and governments. Almost every industry is affected by the problem of duplication. According to a joint report by KPMG and FICCI the counterfeiting business us going to become $1.90 -$2.81 trillion industry by 2022.

Organizations are trying their level best to counter the threat of duplication. The added costs in fighting fakes comes as an extra burden. Besides the company facing duplication has to deal with poor brand image which often takes years to build.

Let’s discuss some of the negative impacts of counterfeiting on manufacturers:

Loss of sales revenue and profit margins: No wonder, a good amount of sales is synonymous with the growth of the company. The sale of duplicate items leads to a drop-down in the sale of a company’s products. If it goes unchecked, then it can lead to a complete downfall of the company. Due to multiple sale locations of the product, it is quite hard for a company to trace the manufacturing location of counterfeits.

Poor brand and product image: No wonder, the sale of counterfeits lead to a tarnished image of the brand and its products. The sale cheap fakes lead to a false perception among consumers regarding the quality of the product and the brand. Unaware consumers often think that they are buying original products but instead, they receive fakes.

Added cost on fighting fakes: Companies have to incorporate different strategies for fighting counterfeiting of their products. This comes in the form of added costs for the organization already facing the problem of duplication.

Counterfeiting causes losses worth billions of dollars to the global economy. However, with the help anti-counterfeiting solutions manufacturers can fight the menace of duplicate products. Holostik is an industry leader in providing the best anti-counterfeiting solutions as per the client’s needs.

Holostik showcases its products at Labelexpo Europe in Belgium

Holostik which is one of the pioneers of hologram manufacturing and anti-counterfeiting solutions in India displayed its wide range of packaging and anti-duplication solutions at Labelexpo Europe, Brussels, Belgium. Considered as one of the biggest events for the packaging industry in Europe, the exhibition took place from 24th September to 27th September 2019, 9:30 AM onwards, at Brussels Expo in Belgium.

Around 600 exhibitors took part in the biggest label and package printing event in the world. Over 200 of the exhibitors were new this year and displayed their latest innovations to an international buyer audience of printers, suppliers, brand owners and designers.

Labelexpo Europe 2019 also presented the largest offering of technologies and live demonstrations seen till date, with an increasing number of product launches for the fast-growing areas of hybrid printing, flexible packaging and automation. The event was visited by important decision-makers and specifiers from the top and middle management of various industries.

Holostik displayed its latest packaging and anti-duplication solutions at the event which included security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more.

Holostik aims to secure various kinds of products from the menace of counterfeiting and help companies achieve their targeted growth. Participants at the event witnessed and understood the uses and benefits of different kinds of packaging and anti-duplication solutions.

How wide web films play an important role in packaging?

Packaging plays an important role in protecting and promoting the product. Marketing gurus consider packaging as the first communicator of the company. In the last few years, flexible packaging has become highly popular in different industries. Flexible packaging products are not just durable but also offer ease of transportation. Among the many flexible packaging solutions, holographic wide web films offer both safety and security.

Holostik is one of the leading players in providing holographic wide films. The presence of holography in wide web films helps in the prevention of counterfeiting and tampering. Holographic wide web films are available in many sizes and can include different security features. Holostik has been providing holographic wide web films to different industries.

Holographic wide web films are available in PET (polyethylene terephthalate) (minimum thickness 12 microns) and BOPP (biaxially oriented polypropylene) (minimum thickness 20 microns). The films are known for their self-adhesiveness, clarity, quality, and shine. Special care has been taken by experts in making the product compatible with international standards and the latest market trends.

Some features of Holostik’s holographic wide web films are as follows:

  • Attractive looks with optimum clarity.
  • Shiny and glossy with high brightness & high gloss holographic effects.
  • Superior bonding strength heat resistant and waterproof.
  • Available in different colors and patterns, Plain, light beam and patterns. Many designs are available for selection and customer designs.
  • Used for toiletries, tobacco, flexible packaging, printing, wine boxes, gift boxes, books, magazines, boxes, printed products, and other paper products laminating. suitable for high-grade imitation and pseudo carton laminating.

Holostik steals limelight at SCM Pharma Summit in Mumbai

Holostik which is one of the pioneers of hologram manufacturing and anti-counterfeiting solutions in India displayed its wide range of packaging and anti-duplication solutions at SCM Pharma Summit in Mumbai. Considered as one of the biggest events on supply chain management in Pharma industry, the exhibition took place from 24th to 25th September 2019 at the Westin in Mumbai.

SCM Pharma Summit is India’s biggest event for supply chain management in the Pharma industry. The summit aims to highlight the strategies, practices, and tools in place to enable organizations to boost their supply chain procedures and achieve a competitive advantage with a special focus on digitization. Designed keeping in mind the current trends in the industry as well as strong research, the conference promises to be a single platform for decision-makers as well as influencers to learn, meet, interact and explore opportunities to grow the business.

The event was visited by important decision-makers from the top and middle management of the pharmaceutical, nutraceutical and supplement industries. At the two-day event, Holostik displayed its latest anti-duplication solutions at the event which included security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more. The company also displayed its cutting-edge IT-enabled supply chain management solution which not just secure the products and supply chain but also help in the monitoring and management of supply chains.

Mr. Dewakar Mahendru Assistant Vice President, Solutions Business, Holostik also showcased an intriguing presentation on the ‘importance of blockchain in supply chain management’.

Two forgers arrested, Rs 1.7L fake notes recovered

Dhaka police and the Special Task Force (STF) Ludhiana have recently claimed to have arrested two persons involved in counterfeiting currency and recovered about Rs 1.7 lakh in fake notes from their possession. The Police said that the accused had learned to make counterfeit notes about six months ago after seeing the video of two miscreants who were arrested by the Karnataka police.

The accused have been identified as 29-year-old Harwinder Singh Harim a farmer from Dera Shaheeda Singh of Rakba and Baljinder Singh Garry, a taxi driver of Jangpur both in Dhaka.

Dhaka SHO sub-inspector Ajaib Sing said that their police party was present near Radha Soami Satsang Ghar Chowk on Raikot Road of Mullanpur when an informer provided a tip-of that the duo was making fake currency. The police jumped into action and arrested the accused from Mullanpur and recovered from their possession Rs 1,69,500 in fake currency, a coloured scanner cum printer, ink cartridges, four empty bottles, a big and a small scissor, three small cutters, a green tape, a steel scale and rim of white papers.

A police official informed that the accused had seen the video of making fake notes. They were making fake notes in the denomination of Rs 100 and Rs 200 when they were arrested from their house in Rakba village. They revealed that the small notes were easy to counterfeit than those of bigger denomination. A case under Section 489 A, B, C, D and E of the IPC has been registered against the duo. The in-charge of STF said that they had got the information about the accused after questioning two drug peddlers.

Source: Times of India

Holostik to showcase its products at SCM Pharma Summit in Mumbai

Holostik which is one of the leaders in anti-counterfeiting solutions in India will display its wide range of packaging and anti-duplication solutions at SCM Pharma Summit 2019. The conference will take place from 24th September to 25th September 2019 (9:00 AM onwards) at the Westin in Mumbai.

The summit aims to highlight the strategies, practices, and tools in place to enable organizations to boost their supply chain procedures and achieve a competitive advantage with a special focus on digitization. Designed keeping in mind the current trends in the industry as well as strong research, the conference promises to be a single platform for decision-makers as well as influencers to learn, meet, interact and explore opportunities to grow the business.

The event will be visited by important decision-makers and specifiers from the top and middle management from Pharmaceutical and other industries. Holostik will display its latest packaging and anti-duplication solutions at the event which will include security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more.

Holostik aims to secure various kinds of products from the menace of counterfeiting and help companies achieve their targeted growth. Participants at the event will witness and understand the uses and benefits of different kinds of packaging and anti-duplication solutions.

Holostik to showcase its packaging and anti-counterfeiting solutions at Labelexpo Europe

Holostik which is one of the leaders in anti-counterfeiting solutions in India will display its wide range of packaging and anti-duplication solutions at Labelexpo Europe 2019. Considered as one of the biggest events for the packaging industry in Europe, the exhibition will take place from 24th September to 27th September 2019 (9:30 AM onwards) at Brussels Expo in Belgium.

With over 600 exhibitors taking part in the biggest label and package printing event in the world. Over 200 of the exhibitors are new this year and will be displaying their latest innovations to an international buyer audience of printers, suppliers, brand owners and designers. Reflecting the size of the show, Labelexpo Europe 2019 is also set to present the largest offering of technologies and live demonstrations seen to date, with an increasing number of product launches for the fast-growing areas of hybrid printing, flexible packaging and automation.

The event will be visited by important decision makers and specifiers from the top and middle management from various industries.

The grand exhibition will witness the presence of Manufacturers and suppliers of:

  • Digital and conventional printing presses
  • High tech label and packaging materials
  • Prepress and platemaking technology
  • Finishing and converting systems
  • Inspection, overprinting and label application equipment
  • Dies, cutters, rollers
  • Inks and coatings
  • RFID and security solutions

Holostik will display its latest packaging and anti-duplication solutions at the event which will include security holograms, security pouches, holographic wads, shrink sleeves, security labels, wide web films and much more. Holostik aims to secure various kinds of products from the menace of counterfeiting and help companies achieve their targeted growth. Participants at the event will witness and understand the uses and benefits of different kinds of packaging and anti-duplication solutions.

Police officials confiscate counterfeit Vivo accessories from Karol Bagh, Delhi

Counterfeit or fake products are a major problem for any big tech brand in India. Lately, Vivo and iconic mobile phone sought the help of Delhi Police in confiscating around 6,286 such products from the popular Gaffar Market in Karol Bagh. The police officials also made some arrests in the process and the brand says that it will continue such raids on a pan-India basis in order to prevent duplication of Vivo’s accessories (earphones, Bluetooth accessories, chargers, batteries, etc.) from the market to secure the brand’s interest.

While investigating the police officials managed to confiscate a wide range of fake Vivo accessories. While commenting  on the problem a Vivo said in an official statement, “To combat the problem of counterfeit of its tradename, product, and accessories, Vivo along with its agency Anti-Piracy Group Services LLP had conducted authorized Raid with the help of Police Officials on 5th September 2019 at the vicinity of Gaffar Market, Karol Bagh.”

The brand also mentioned that due to such counterfeit products the consumers can often experience quality issues and even battery blasts in some cases. However, it is very rare for tech brands to take such a strong recourse action against fake products because these products are available in large quantities due to the thriving black market. Fake products not only dupe the consumers into spending money on non-genuine products but also put their lives at risk.

Source: 91mobiles.com

The negative impact of counterfeiting in the pharmaceutical industry

There are many times when the medicines you take do not help you in relieving from the ailment. Sometimes these medicines may cause many unwanted side effects on your body. This simply means that such medicines may be of low quality or counterfeit.

The market of fake medicines has grown tremendously over the past few years. Such spurious medicines can be found at government pharmacies, big pharma stores, local drug stores to small shops. Nowadays, people have become highly susceptible to fake or spurious medicines. This is because of many reasons like lack of awareness, poor monitoring of supply chains and weak regulations.

Here are some shocking facts about counterfeiting in the Pharma industry.

  • Around 20% of all drugs sold in the Indian market are counterfeit- (Source: US Trade Representative Office Annual Report)
  • Up to 10% of drugs in developing countries are fake, costing an annual loss of $10bn to $200 Billion. (Source: American Journal of Tropical Medicine and Hygiene)
  • 35 percent of fake drugs sold all over the world come from India. (Source: WHO Report)

Now let’s discuss some of the challenges posed by counterfeit medicines.

1. Prevents the business growth of Pharma companies: One of the biggest impacts of counterfeiting in the pharma business is that it brings down the profits of legitimate manufacturers. Market reports state that fake medicines lead to an annual loss of $46 billion for pharma companies worldwide.

Hampers the use and promotion of low-cost generic drugs: A major share of India’s drug market is dominated by branded generics. To promote the use of less expensive branded generic medicines government is taking various measures but, the circulation of fake drugs blocks its promotion and sale. This is because medicine earns a bad reputation due to its duplication.

3. Increased pressure on health and economy: The use of counterfeit medicines increases unnecessary costs on public health. This is due to their unwanted side effects which leads to a host of other health complications and diseases subsequently creating a vicious circle.

4. The extra cost for resources: To tackle the issue of counterfeit government has created many regulatory bodies but, has failed to counter the problem due to lack of manpower, for more human resources increase in costs are quite evident. For instance, India’s Central Drugs Standard Organization which is the country’s drug regulator had just 233 employees in 2014. In order to increase the strength of employees will bring an extra burden on the government in the form of increased expenditures.

One lakh crore lost annually in India due to counterfeit products- ASPA

According to a new report by ASPA (Authentication Solution Providers’ Association), India suffers a loss of over one lakh crore Rupees per annum due to sale and purchase of fake goods by consumers from all sectors.

Nakul Pasricha, President ASPA said, “Counterfeiting is most prevalent in the pharmaceutical industry.” Mr. Pasricha has also urged the government to take adequate steps to mitigate such risks. He stressed on the need for proper implementation of authentication solutions, enforcement, awareness and monitoring which will reduce counterfeiting in Indian by 50% which would save around fifty thousand crore rupees per annum.

While quoting from a report of OECD (Organisation for Economic Co-operation and Development), Mr. Pasricha said that in India trade of counterfeit goods has increased steadily in the last few years whereas globally the volume in fake products now stands at 3.3% of the total global trade which causes a massive loss to brand owners in terms of revenue.

ASPA’s President also discussed about different technologies available against counterfeiters which include anti-tampering, tracking and tracing. He gave an example of Nigeria where the adoption of physical and digital authentication solutions has reduced the rate of counterfeiting from approximately 20% to 3.5% in the Pharma sector in three years.

He cited the high return of investment and positive impact of anti-counterfeit solutions around the world, Mr. Pasricha expressed confidence that India too will be on the road to adopt authentication technology.

Source: Lexology.com