Many global businesses are facing challenges in genuineness of product as counterfeiting is elevating in supply chain. Luxury industry face huge challenges to combat luxury counterfeiting one of them is that Block chain technology guarantees the traceability and product originality. This study aims to present the implementation of block chain technology adopted by Luxury industry to protect their identity and stop duplication of products. During the study, it is found that counterfeiting is still a continued practice which is often seen in supply chain activity by Luxury companies and customers. Further, due to online buying, counterfeiting is increasing day by day. Lastly, the block chain implementation has huge benefit to luxury companies in terms of intellectual property regulations and privacy concern (https://www.retail-insight-network.com/comment/luxury-blockchain-consortium/) and as its own implications in Luxury landscape.
Cite this article:
Hemantha Y. Embracing Block Chain Technology in Supply Chain to combat Counterfeiting Luxury and Fashion brands. Asian Journal of Management. 2022;13(2):145-0. doi: 10.52711/2321-5763.2022.00026
Hemantha Y. Embracing Block Chain Technology in Supply Chain to combat Counterfeiting Luxury and Fashion brands. Asian Journal of Management. 2022;13(2):145-0. doi: 10.52711/2321-5763.2022.00026 Available on: https://ajmjournal.com/AbstractView.aspx?PID=2022-13-2-8
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