Three LVMH Maisons select MarqVision as their brand protection provider
LOS ANGELES and PARIS, June 27, 2022 /PRNewswire-PRWeb/ -- MarqVision, a next-generation, AI-powered IP protection platform, today announced that it is the recipient of a coveted 2022 Innovation Award from LVMH Moët Hennessy Louis Vuitton (LVMH). The company was recognized in the Data and Artificial Intelligence Special Mention category at this year's Viva Technology show in Paris, which took place June 15-18. As a winner, MarqVision has been invited to join the LVMH accelerator program, La Maison des Startups, at the Station F incubator.
For the past six years, the LVMH Innovation Awards program has been one of the highlights of the Viva Technology show, which has itself become a key event for the world's innovation ecosystem. Through its participation, LVMH recognizes the need to support entrepreneurial spirit and innovation in order to build a better future for everyone. It also demonstrates how its own success is due in part to the ongoing dialogue between its 75 Maisons and the world of startups, a constant source of creativity.
MarqVision's technology comes at a time when the global counterfeit market is exploding, as it is projected to grow another 50% this year to reach nearly $3 trillion in 2023. The company's technology enables efficient removal of counterfeits end-to-end by automating the traditional anti-counterfeiting process. Its proprietary AI models detect counterfeits with 95%+ accuracy and remove counterfeit sales at scale.
MarqVision was one of more than 950 startups to apply for the 2022 Innovation Awards, and applications were received from 75 countries. A total of 21 startups from 10 different countries were selected as finalists, notably reflecting their ability to enhance the customer experience through different dimensions.
"It is such an honor to receive an Innovation Award in the Data & Artificial Intelligence category, considering the amazing companies that participated this year," said DK Lee, co-founder and CBO of MarqVision. "We are thrilled that MarqVision has been singled-out for developing first-of-its-kind technology to address the massive global counterfeit problem and theft of intellectual property. Our platform uniquely exists to protect human creativity and innovation in today's digital world, which is perfectly aligned with LVMH's vision for the Innovation Awards."
Three of the LVMH Maisons have already selected MarqVision as their brand protection provider.
"At LVMH, Innovation is our lifeblood. It's what allows us to continually increase the desirability of our Maison's products and services. The finalists of the 2022 Innovation Award will bring us their capacity to nourish the encounter between luxury and technology even more as their entrepreneurial spirit joins and inspires our own," says Bernard Arnault, CEO and Chairman, LVMH.
About the LVMH Innovation Award
The LVMH Innovation Award was introduced in 2017 to recognize promising start-ups from around the world. The award affirms the importance of new ideas resonating with the group's core values of excellence, creativity, innovation, and entrepreneurial spirit. Each year, hundreds of startups submit to be chosen as finalists and be invited to be part of the LVMH Lab during the Viva Technology Show in Paris which brings together the game changers driving the digital transformation around the world.
About MarqVision
MarqVision helps global brands identify and remove counterfeits from more than 1,500 online marketplaces across the world. Counterfeiting is a massive and growing threat worldwide, and MarqVision is on a mission to protect creativity and innovation with technology that allows brands to automatically monitor and protect their IPs. Harnessing image recognition and natural language processing, this AI-powered SaaS makes it faster than ever before to take down counterfeits. Founded in 2020 by Harvard Law graduates and backed by Softbank and Y Combinator, MarqVision is bringing forth the next evolution of brand protection for businesses everywhere. Learn more: http://www.marqvision.com.
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SOURCE LVMH
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