This Company Provides Authentication Tools To Eliminate Counterfeit Products
Document Security Systems, Inc. (NYSE: DSS), a leader in anti-counterfeit, authentication, and diversion protection technologies, announced that it has signed an agreement with Market Defense, LLC, an online brand protection specialist that fully-manages a brand’s Amazon marketplace, including the identification and elimination of product diversion, counterfeit products and unauthorized distributors.
With a portfolio of world-class solutions, Market Defense, LLC protects, defends and expands a brand’s business on the Amazon platform by more efficiently managing their Amazon listings and facilitating the takedown of infringing or fraudulent product. While a tremendous amount of success has come from working with “Prestige Beauty” products.
According to Globe Newswire,
“The Amazon Marketplace, which is made up of over 2.5 million independent merchants with goods for sale, accounted for approximately $175.0 billion in revenue, representing over 68% of Amazon’s total 2018 sales, according to e-commerce intelligence firm Marketplace Pulse. In a recent regulatory filing, for the first time, Amazon warned investors that one of the biggest problems facing its online marketplace was counterfeit products.
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Amazon merchants are facing an increased threat from counterfeiters who undercut prices for authentic products and try to hijack product listings. As a result, some brands have stopped selling on Amazon altogether.”
Mike Buell, VP of Sales & Marketing at DSS, said: “Our partnership with Market Defense fits perfectly with our overall strategy of protecting brand owners and consumers from the inevitable damage cause by counterfeit and diverted products.”
He continued: “Online sales are a major source of counterfeiting. By combining our authentication tools and their expertise managing a brand’s Amazon channel, we offer an effective combination of technology and process management that identifies and remediates the fraud threat.”
Chad Annis, founder and CEO of Market Defense, also commented: “DSS brings a powerful set of game-changing tools our brands are looking for to help control online diversion, counterfeiting and, ultimately, protect their equity.
With AuthentiGuard technology, our clients no longer have to rely solely on each online channel to respond to our inquiries and remove illegal or offending gray marketers.”
Annis added: “This relationship provides our brand partners, some of which are Fortune 100 companies, access to both internal and external methods to police and control their products, from manufacturer to end-user, insuring that the customer receives the quality, warranty and full benefit intended of genuine products.
In a world where retail distribution and supply channels are experiencing continuous change, DSS offers a seamless, unobtrusive, and very affordable method of defeating counterfeiters and gray market sellers. We feel it is a brilliant solution.”
Based on the chart, it appears that investors are optimistic about the news.
DSS should be considered a buy if recent momentum continues.
Look for an entry at $1.31 with a price target of at least $2.45 based on the pattern in the chart.