In our first podcast of 2023, our Head of Beauty, Wilma McDaniel, was joined by esteemed beauty industry veteran and founder of The Red Tree, Stirling Murray, to discuss the importance of tackling counterfeits in the beauty industry.
As we know all too well, the dark and unscrupulous world of counterfeits is one which impacts all industries. That said, given the scale and success of the beauty industry, which depends so heavily on reputation and safety, it is no wonder that beauty is one of the most at risk sectors, particularly when it comes to fakes.
With that in mind, in our new podcast we discuss what brands can do to protect themselves, and the risks associated with in-action – starting with beauty.
The risks of counterfeiting in the beauty sector
When it comes to beauty and cosmetics, the consequences of fake products are far greater than just the financial losses.
To start with, counterfeiters will set their eyes on so-called ‘hero’ products, manufacturing their own fake versions without testing or carefully selected ingredients. Trading on reputation alone, all beauty brands are at risk of such counterfeiting – from small independents to longstanding luxury giants.
When unwitting consumers purchase these products and add them into their make-up and skin care routines, the risks can be life-threatening. What’s more, while the packaging of the product may look genuine, its contents are certainly not. Unlike the real thing, the formulations that brands spend years refining for their customers do not make their way into counterfeits. What’s worse, fakes undergo zero testing and will often cut corners, using harsh chemicals which may cause allergies or serious health risks.
Given the huge safety and reputational implications, the threat is clear. Whether a growing start-up or fully fledged business, beauty brands must actively work to counter this threat. It is a situation that they cannot afford to ignore.
What does this mean in practice? While working together is critical, protecting your brand today is just as important. Here’s how we can help.
Brand protection is a critical tool in the fight against counterfeits.
From car parts to tech, fashion and beauty, brand protection covers any industries and products you can name. Using your IP, we can protect the products you create, ensuring your reputation, revenues and innovation are rightly rewarded.
Where do I start?
Registering Intellectual Property (IP) must be a priority for all brands looking to protect their assets. Whether acquiring your first trademark or refining your latest patent, working with specialist lawyers to protect your key territories and products is a critical step in preventing bad actors from profiting off your name and work.
When should I start?
For the best results, brands must act fast and work to register their IP quickly. That said, you should also carry out your own searches to ensure you aren’t inadvertently copying someone else’s IP. Remember, as you expand you should also ensure you register your IP wherever you trade – from manufacture to sale. One trademark does not necessarily fit all.
How else can I protect myself?
While registering IP is key to protect your brand, it must be coupled with active monitoring and enforcement for positive results. This is where we can help. Using our specialist Swoop software, AI technology and team of brand analysts, we work everyday to keep your brands and IP safe from harm. This not only protects products and customers, but it also closes the door on the unscrupulous world of counterfeits.
Want to find out more? Give our podcast a listen and get in touch.
You can access it on Spotify: https://lnkd.in/db4m28Zk or on other channels: https://lnkd.in/dYWAbEgh