Adds Authenticity Markers to Namaste (CVE:N) Products
YPB will receive A$0.13 per product that is marked with YPB's label solution. Other methods of marking are currently being developed which will result in serialisation of product packaging. If the brand prefers to directly mark packaging with a printed code, the price per product would be between A$0.01 and A$0.05.
The decision by Namaste Technologies follows the globally significant precedent recently set by e-Commerce giant Amazon that has mandated anti-counterfeit markings on all products sold through its platforms.
The YPB solution has some distinct advantages over that announced by Amazon in terms of price, access the Brand will have to data and importantly YPB's solution can be read by any smartphone without the need for an APP.
"We are seeing a new level of consumer expectation that the products purchased are genuine, safe and socially responsible," said YPB Group Limited Chief Executive Officer, John Houston. "Brands are increasingly seeing the reputational and financial damage that results from counterfeit products. It is great to see that the e-commerce platforms are taking the initiative to herald this new age, and YPB believes that it is exceptionally well-placed with the world's leading product authenticity technologies."
"We want to do the best by our consumers and brands by taking proactive measures to ensure the authenticity of the products we sell through our platform," said Meni Morim, CEO of Namaste Technologies. "We believe YPB has a strong solution and we expect that the connectivity and authenticity features will been welcomed as a value-add by our brand clients and consumers."
About YPB Group Ltd
YPB Group Ltd (ASX:YPB) brings packaging to life through its proprietary technology suite that provides certainty of authenticity and connects brands directly to consumers enabling new levels of market intelligence and ROI data capture.
In an evolving marketplace and with the rapid growth of cross border commerce, our expertise presently focuses on the rapidly growing consumer markets of Australia, South East Asia and China.
YPB Group Ltd
Namaste Technologies Inc