Hotline: 1800 102 2007
Hotline: 1800 102 2007
Feb, 04 2017

​FMCG loses 30 percent of business revenue due to counterfeit

Products belonging to brands such as L'Oreal, Lakme, Revlon, Olay, Elle 18, Nivea, Fair & Lovely and several others were found in the premises. The growing incidents of counterfeiting have led to a demand for anti-counterfeit packaging (ACP).

​FMCG loses 30 percent of business revenue due to counterfeit

Fast-moving consumer goods (FMCG) packaging remains the worst affected industry due to counterfeiting which accounts for over 30 percent of business revenues, according to industry reports.

The estimated value of counterfeit and smuggled goods of these grew from Rs 729 billion in 2012 to Rs 1,054 billion in 2014, according to a study by consultancy firm KPMG. A study by advisory firm KPMG and the Federation of Indian Chambers of Commerce and Industry (FICCI) indicates that sales of fake consumer goods are growing faster than the overall consumer products market.

Recently, The Food and Drug Administration (FDA) busted a racket and seized fake cosmetics products worth Rs 2.39 crore from a shop in Crawford market, Mumbai. Products belonging to brands such as L'Oreal, Lakme, Revlon, Olay, Elle 18, Nivea, Fair & Lovely and several others were found in the premises. The growing incidents of counterfeiting have led to a demand for anti-counterfeit packaging (ACP).

Authentication Solution Providers’ Association (ASPA) and Messe Frankfurt India (MFI) have joined hands to bring authentication solutions to the forefront. ASPA has already developed authentic solutions that are empowering consumers, brand owners and government authorities to easily identify genuine goods and products. According to a statement, they have developed a mobile and web application and an SMS facility that will enable brand owners and consumers to authenticate the originality of the products. More than five states in India are already using security holograms and other initiatives in the pipeline will be discussed at this forum.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Institutional/Facility Cleaning
    “Pharvinex Chemicals and Intermediates” is one of the most trusted..
    Locations looking for expansion Rajasthan
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10000 - 50000
    Space required 300
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Kota Rajasthan
  • Online Learning/E-learning
           SpeedLabs is a Artificial Intelligence based practice platform..
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • About: Founded by Ms Indu in 2017 It was incepted with the..
    Locations looking for expansion Haryana
    Establishment year 2017
    Franchising Launch Date 2020
    Investment size Rs. 10000 - 50000
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Faridabad Haryana
  • Robotics & Technical Training
     About Us:  ROBOTICS AND STEM learning.  TinyBots is an initiative of a scienc..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2019
    Investment size Rs. 50000 - 2lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities