June 22, 2022
Vincent Perriard has spent most of his life working with and advising the largest brands in fashion and luxury goods, so he can tell you exactly why that luxury watch for sale on the secondary market is so valuable. What’s more, he can tell you why authenticity has become paramount in the digital world of secondary sales.
“Ten years ago, I was the CEO of a watch company. We launched a new model with a lot of marketing, worldwide. The day of the product’s launch, I was in New York and having a drink at a bar downtown. My friend suddenly tells me to look at a businessman sitting next to me. On that man’s wrist was our brand new watch model! After a few seconds of hesitation, I finally explained to this man that I am the CEO of this watch brand. And he told me that he got his watch that morning on Canal Street… for $20! The real watch was valued at over $15,000! That’s when I realized how bad counterfeiting was, right there, just around the corner from all the top brands.” — V.P.
This was just one of many encounters Vincent would have with counterfeit products and the consumers who have been scammed — not to mention the very brands he has worked with trying to solve for authenticity and traceability in a rapidly evolving market.
“The luxury goods industry has always had the challenge of proving the authenticity of each object. This became even more important with the advent of online sales and the rise of resellers. 20 years ago, the only way to buy a luxury product was to go into a physical store where the seller would represent the brand. The human element made the trust very high.
Today, many of the top luxury items are in short supply, and the only way to buy them is second-hand. Yet, you don’t know the seller, and you are not even in the same physical space. You need an absolute guarantee that the object is real and authentic, and a simple QR code will not provide that. The solution is a biometric reading of each object, like a fingerprint, that proves that it is what the seller says it is. This type of solution, one that involves the biometry of the physical object to certify its own authenticity, will truly change the way the luxury industry does business in the very near future. That’s where ORIGYN comes in.” — V.P.
As a co-founder of ORIGYN, Vincent is helping to pioneer the biometric technology used to issue digital certificates for luxury objects such as watches, handbags and jewelry. His goal is to solidify ORIGYN Luxury as the de facto name in the digital certification space by expanding a utility-based, biometric solution rapidly in the market.
“Personally, I love the challenge of understanding complex technologies and making them available and accessible to all. With ORIGYN, we are using cutting-edge technologies (i.e., blockchain, biometrics, AI, etc.), but at the end of the day, we are providing a simple solution for all: the guarantee that the product we certify is authentic. We think consumers looking to buy on the secondary market will eventually ask to see the item’s ORIGYN certificate.” — V.P.
And is there anything besides luxury items that Vincent would want to authenticate?
“Me! I mean, one of the ultimate goals is to prove that I am me. Like having a biometry of me, proving that I am this person, instead of needing to have a passport. You know, something else that can easily be forged.” — V.P.
That may be something ORIGYN tackles in the future. Though it’s pretty clear that Vincent Perriard is definitely one-of-one.
Stay tuned for more Origynator and leadership spotlights coming soon here, and follow us on Twitter for more on ORIGYN NFTs and digital certificates!