| Title : |
The perfect crime': Aussie business battles counterfeit wine in China |
| Author(s) : |
|
| Source : |
The Sydney Morning Herald |
| Year : |
2018 |
| Link : |
https://www.smh.com.au/business/small-business/the-perfect-crime-aussie-business-battles-counterfeit-wine-in-china-20181217-p50mok.html |
| Country : |
China |
| Commodity: |
All Food |
| Abstract: |
At the point of sale the QR code is readable by any smartphone and when scanned takes the customer to a quick digital authentication process. If the wine is genuine they see a screen that says its authentic; if it’s fake they are taken to a screen where they can report it back to the wine producer. Accolade deal. John Houston started YPB in 2011 and the business is now listed on the Australian Securities Exchange with a market capitalisation of $11.19 million. YPB reported a post tax loss of $4.3 million in August however Hewson says the business has significant growth potential with the global counterfeiting industry projected to be worth about $4.3 trillion by 2022."As an industry it is an enormously big problem because there is so much organised crime involved in it and the cost to brands is enormous," he says."Anecdotal stories are that for some products 50 per cent of the wine in China is counterfeit."Winemaker Grant Burge. |
