- Auction Monitoring Solution Uncovers Identities of Unlicensed Sellers
and Empowers H&M's Global Security Team to Shut Down Illegal Auction Listings
MarkMonitor(R), the leader in online corporate identity protection, today
announced that H&M Hennes & Mauritz AB (H&M, Stockholm exchange: HMB.ST) has
selected MarkMonitor's Auction Monitoring(TM) solution to help identify and
eliminate online counterfeit and gray market sales of its fashion lines on
illegal Internet auction listings. A key component of MarkMonitor's
integrated identity protection suite of solutions, Auction Monitoring
addresses escalating concerns over loss of revenue and brand erosion due to
unauthorized product sales and illegal merchandising via Internet auction
sites. As a global company committed to building its brand equity on a
long-term basis, H&M's adoption of MarkMonitor's solution significantly
strengthens its capability to combat online counterfeit and gray market
diversion in the highly competitive, global fashion industry.
Founded in 1947, H&M is a global firm committed to providing high fashion
and top quality at the best price and offers a wide range of well-known and
highly sought after brands. Operating in 22 countries, with more than a
thousand stores, H&M's brand name is synonymous with well-known, stylish,
highly popular fashion. As a leader in the fashion industry, H&M has
collaborated with influential fashion designers like Stella McCartney and
Karl Lagerfeld, propelling the retailer to greater popularity. To manage the
growing threat of counterfeit and gray market goods, H&M sought a solution
that would enable the company to gain global visibility into illegal online
activities and facilitate rapid reporting of fraudsters' identities
worldwide.
"We suspected that our products were being sold illegally online and have
not had the tools to track down and identify the perpetrators until we used
Auction Monitoring," said Bjorn Norberg, General Counsel at H&M. "With
MarkMonitor's solution, we can automate and more efficiently uncover the
profile of those responsible and take immediate action to shut down their
illegal auction listings. MarkMonitor will help us to better utilize internal
resources by effectively scaling a previously time-consuming process, enhance
the overall security of the company with in-depth monitoring of online fraud
activities, and minimize revenue losses from counterfeit and gray market
goods, so we can continue to provide quality fashion at the affordable prices
that we are known for."
MarkMonitor's Auction Monitoring provides companies with insight into how
their products are sold online and by whom, including location, profile and
identity. The solution identifies and prioritizes abuses, sends email alerts
for suspicious online auctions, and enables automated responses that allow
for swift action to close down the illegal listings. Auction Monitoring is
part of a comprehensive online corporate identity management solution, which
includes domain management, brand protection, fraud prevention and enables
corporations to protect their brands and consumers from a range of corporate
identity-based threats including counterfeit goods, gray market sales, fraud,
phishing, and trademark infringement.
"Online auction sites, where the identity of the seller and authenticity
of the product are unknown to the buyer, provide counterfeiters with a
virtual channel for distributing their goods. MarkMonitor's automated system
for finding and prioritizing illegal online selling activity takes the guess
work out of tracking down suspect counterfeit listings and empowers companies
to take action to protect their revenues and customers," said Mark Shull, CEO
of MarkMonitor. "The unauthorized sale of goods via online auctions impedes
e-commerce success and growth, and it's our goal to help companies protect
themselves and their customers against these types of online threats and
losses."
About H&M
H & M Hennes & Mauritz AB (H&M) was established in Sweden in 1947. The
company's business concept is to offer fashion and quality at the best price.
H&M is quoted on the O-list of the Stockholm Stock Exchange and has
approximately 1,200 stores in 22 countries. H&M has more than 50,000
employees and achieved sales including VAT in 2005 of SEK 71,886 million. H&M
has a wide product range that is divided into a number of different concepts
for women, men, teenagers, children and cosmetics. The company's clothing
collections are created by its own designers, pattern makers and buyers. For
more information, visit www.hm.com.
About MarkMonitor
MarkMonitor is the global leader in delivering comprehensive online
corporate identity protection services, Making the Internet Safe for
Business(TM). MarkMonitor's integrated Brand and Fraud Protection(TM)
platform provides full life-cycle management, including its Early Warning
System(TM), as well as real-time detection, and investigation and response,
to a wide and growing list of identity-based online security problems faced
by corporations today. These solutions are enabled by a comprehensive brand
and fraud intelligence network that monitors for inappropriate or fraudulent
use of a corporate name or identity anywhere in the Internet, including web
sites, search engines, major email systems, domain name systems, registries,
message boards, blogs, chat rooms, and auctions. For more information, visit
www.markmonitor.com.
Erick Mott of MarkMonitor, +1-415-278-8412, or erick.mott@markmonitor.com; or Alice Khounta of Antenna Group, +1-415-977-1916, or alice@antennagroup.com, for MarkMonitor
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