China’s Rich Paying Big Money on Learning How to Recognize Fake Luxury Goods

With counterfeit luxury goods getting harder and harder to spot, China’s rich are paying thousands of dollars for  specialized courses on how to tell apart authentic luxury products from fakes.

China’s domestic luxury market is currently valued at approximately 4 trillion yuan ($617.7 billion) and that’s not even taking into account the second-hand luxury goods trade, but this boom has also given rise to sophisticated counterfeiting. Stories of bargain hunters being conned into parting with their money in exchange for hard-to-spot fake luxury products are very common on Chinese social media, so much so that there are now companies offering specialized courses on how to tell authentic luxury goods like Louis Vuitton or Chanel bags from counterfeit ones.

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Start-Up Creates Portable Scanner That Can Detect Fake Designer Goods

New York-based startup Entrupy has invented a small, portable scanner that rich people can use to check the authenticity of designer bags in mere seconds.

According to data from the Organisation for Economic Co-operation and Development, the global counterfeit industry is worth around 460 billion dollars, a big chunk of which involves counterfeit luxury goods from brands like Louis Vuitton or Channel. The thing about such fakes is that they are often so well-made that the human eye simply cannot tell them apart from originals. That’s where technology come in. Using a high-quality scanner and deep-learning technology, the brilliant minds behind Entrupy, have come up with a device that allows anyone to check the authenticity of luxury products, anytime, anywhere.

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