In recent years, the production and sale of counterfeit fashion products has increased significantly. According to the product authentication platform Certilogo, the fashion industry lost more than 45 billion euros due to counterfeit goods in 2020. According to Insider , Entrupy is a technology service that uses AI to authenticate designer handbags and sneakers on the resale market, ensuring customers own genuine products.
According to Entrupy's website, as of December 2020, AI technology had been used by hundreds of antique dealers. Interest in this tool is expected to increase significantly as businesses strive to capitalize on the AI craze. AI applications are an effective solution for high-end retailers to build trust with customers.
Currently, Entrupy can only authenticate products from major brands such as Balenciaga, Burberry, Gucci, and Louis Vuitton.
Entrupy was founded in 2012.
In an interview with Elle magazine, Vidyuth Srinivasan, CEO of Entrupy, emphasized that the main purpose of this technology is to strengthen customer trust and provide third-party product verification. He stated that this helps consumers feel confident about the product's origin and ensures that a third-party organization is involved in verifying the product.
In October 2022, TikTok announced a partnership with Entrupy to verify the authenticity of products sold on TikTok Shop.
To use the AI authentication tool, users must take photos of the product from multiple angles after placing their smartphone into Entrupy's device. Entrupy's lens magnifies objects up to 260 times, thus detecting small flaws in counterfeit goods such as color, material, or logo.
The images are then cross-referenced against a database of millions of images of genuine products using an AI algorithm. Within minutes, Entrupy can determine whether a product is real or fake. However, the company notes that the accuracy rate of this technology is 99.1%. In addition, Entrupy also provides an official certificate that retailers can display if the product is verified as genuine.
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