Tianjin, China, 13th September 2010 – Hublot, a leading Swiss watch manufacturer and WISeKey, a 2010 World Economic Forum (WEF) Global Growth Company, announced the successful deployment of their unique breakthrough anti-counterfeiting solution, demonstrating the highly proactive collaboration amongst Global Growth Companies to develop concrete solutions to important issues facing society.
Since 2010, all Hublot watches have been protected by WISeAuthentic®, an authenticity-certification system using WISeKey technology. Operational in over 400 Hublot boutiques over all continents and praised by the reseller network and Hublot’s management, the risk of counterfeiting is greatly reduced and sales are monitored in real time, allowing quantifiable direct marketing activities and control of the gray market.
“The technology consists of creating an electronic guarantee certificate with an algorithm, which contains the watch identity code and enables privileged access to a reserved space on the Hublot website. Hublot sales outlets and clients are able to use the SmartCard to check instantly online if the watch is genuine. This combination provides a fail-safe solution, impossible to replicate, at a fraction of the amount lost in sales due to counterfeits. ” said Jean-Claude Biver, Hublot’s CEO.
“This is a major issue debated between WEF Global Growth Companies here in Tianjin, as counterfeiting represents five to seven percent of all world trade and is increasing daily,” said Carlos Moreira, WISeKey’s CEO. “With luxury brand industries estimated at one trillion dollars (US), these companies need a reliable solution that will prove authenticity. We are pleased that WISeKey technology is now used in the fight against counterfeiting.”
WISeAuthentic is available for luxury, pharmaceutical, auction, aeronautic and gemology products.