Techrock Partners With Inagora, One of the Largest Cross-Border EC Companies in Japan, to Deliver Authentic Japanese Products to the Chinese Market
Anti-counterfeit blockchain technology company Techrock expands reach to secure high-demand Japanese products
SHANGHAI, February 20, 2019 (Newswire.com) - Techrock (formerly Walimai), the safe-product retail channel, has officially partnered with Inagora for a joint crusade to provide assurance of authenticity to Chinese consumers for Japanese products. Inagora is one of the largest cross-border EC platform companies in Japan and has received over 70M USD worth of investment from Itochu, KDDI, SBI Holdings, and more. The company operates a Chinese market-focused EC called Wandougongzhu and has partnered with Hankyu, a famous department store to sell cosmetics goods to Chinese consumers.
The partnership between Techrock and Inagora is a major step forward in protecting Chinese consumers from fake products. Japanese cosmetics have become extremely popular in the past few years, leading some brands to limit purchases to two per person. The counterfeiting of cosmetics is a grave issue: last year, Chinese police seized over 120M USD worth of fake branded cosmetics.
Thanks to Techrock’s IoT solution, the partnership provides (in addition to product protection) an entirely new set of marketing data for Japanese FMCG goods. To verify a product’s authenticity, consumers are incentivized to scan the Techrock label, which earns them loyalty points to redeem for future purchases. Marketers will be able to gain exclusive consumer insights as they gain access to not just purchasing data, but also post-purchase scan data including proof of consumption.
Founded by Alex Busarov and Yaz Belinskiy, Techrock is a company dedicated to solving the problem of counterfeit goods in China using sophisticated banking-level security tech to create a safe product retail channel. This channel enables consumers to verify the authenticity of products with ease. A single scan of the Techrock label tracks a product’s journey from the manufacturer to the store shelf.