Famous sporting goods manufacturer shuts down tens of thousands of unauthorized sales with the GenuNet Auction V4.0 software
Boston - April 19, 2005
GenuOne, a leading provider of supply chain security solutions,
announced today that their client-partner, Mitchell & Ness
Nostalgia Co., has successfully developed an anti-counterfeiting
program utilizing the GenuNet Auction™ V4.0 software.
Using GenuNet Auction™ V4.0, Mitchell & Ness has been able
to effectively monitor and eliminate unauthorized sales of Vintage
Authentic Sports Jerseys on eBay. "The GenuNet Auction application has
enabled us to quickly find and take action on counterfeit jerseys
eroding our quality brand," says Peter Capolino, President and CEO of
Mitchell and Ness Nostalgia Co. "The ROI both in terms of dollars and
efficiencies has been substantial and we believe this is a key part of
our anti-counterfeiting strategy."
GenuOne estimates that Mitchell & Ness has prevented over
$11 million in brand erosion by utilizing GenuNet Auction™ V4.0. This
dollar value is comprised of the 36,000 auctions they have closed in
less than twelve months.
"The issue of unauthorized sales and activity on the internet
continues to be a substantial challenge for leading manufactures of
brand name products and collectibles," says Jeffrey Unger, Chief
Executive Officer of GenuOne, Inc. "We believe the need to protect your
brands and products within online distribution outlets is critical for
all major manufactures. We are proud to have had a strong and positive
ROI impact on Mitchell & Ness' anti-counterfeiting program."
GenuNet Auction™ V4.0 is a proprietary hosted application
specifically designed to streamline the identification of infringing
listings, track suspicious sellers, shut down infringing auctions and
help the brand owner minimize illicit product sales within online
auctions, including eBay. By automating the identification, search and
shutdown processes, GenuNet Auction™ V4.0 provides a manageable process
and creates rapid ROI for companies with potential counterfeit products
being sold online.
About GenuOne
GenuOne secures the products and
supply chains of the world's leading brands from counterfeiting, online
piracy, gray market diversion. Our solution driven approach of
software, tags and professional services provides us the tools to
develop unique solutions for our clients supply chain security needs.
Established in 1999, GenuOne is a profitable, emerging growth company,
with over $20M of venture-backed funds raised to date. Annually, we
authenticate and track hundreds of millions of unique products across
10 countries and dozens of supply chains. Our client focus includes
major corporations in the footwear & apparel, luxury goods,
pharmaceuticals and consumer electronics industries.
About Mitchell & Ness
Founded in 1904, Mitchell & Ness Nostalgia Co. is known worldwide
as the pioneer of authentic throwback sportswear. As an exclusive
licensee with the NBA, NFL, NHL, MLB and AFL, Mitchell & Ness
offers four signature collections featuring over 1600 players,
authentic-inspired and branded collections, and is the on-field
outfitter of the Philadelphia Soul Arena Football Team. Headquartered
in Philadelphia, PA, Mitchell & Ness has been "Defining Authentic"
for over 100 years. For more information, visit www.mitchellandness.com.
