MarkMonitor, the leader in online corporate identity protection, announced that fashion house Hennes & Mauritz AB has selected MarkMonitor's Auction Monitoring solution to help identify and eliminate online counterfeit and gray market sales of its fashion lines on illegal Internet auction listings.
A key component of MarkMonitor's integrated identity protection suite of solutions, Auction Monitoring addresses escalating concerns over loss of revenue and brand erosion due to unauthorized product sales and illegal merchandising via Internet auction sites.
As a global company committed to building its brand equity on a long-term basis, H&M's adoption of MarkMonitor's solution significantly strengthens its capability to combat online counterfeit and gray market diversion in the highly competitive, global fashion industry.
"We suspected that our products were being sold illegally online and have not had the tools to track down and identify the perpetrators until we used Auction Monitoring," said Bjorn Norberg, General Counsel at H&M.
"With MarkMonitor's solution, we can automate and more efficiently uncover the profile of those responsible and take immediate action to shut down their illegal auction listings. MarkMonitor will help us to better utilize internal resources by effectively scaling a previously time-consuming process, enhance the overall security of the company with in-depth monitoring of online fraud activities, and minimize revenue losses from counterfeit and gray market goods, so we can continue to provide quality fashion at the affordable prices that we are known for," he added.
marketing@alchempro.com
