Source: blockchain.news
eBay Inc., a global leader in commerce, has announced the completion of its acquisition of Certilogo, an AI-powered digital identification and authentication provider for apparel and fashion items. This move will bring new ‘Secure by Design’ digital ID technology to eBay’s fashion category, expanding opportunities in the circular economy.
Milan-based Certilogo uses digital technology to enable brands and designers to manage the life cycle of their garments. It offers consumers a simple way to interact with their favorite brands, access trusted product information, confirm authenticity, and easily activate circular services. The company will continue to operate under the leadership of CEO Michele Casucci.
Charis Márquez, Vice President of eBay, expressed her excitement to welcome the Certilogo team to eBay, praising their passion and cutting-edge technology. Márquez noted that the acquisition will allow eBay to offer brands connected and secure product solutions that are flexible and compatible. It will also enable brands to protect their customers from counterfeiting and engage in trade through counterfeit-proof digital product passports.
Michele Casucci, CEO and founder of Certilogo, sees the partnership as an opportunity to unlock the potential for consumers and brands to connect and broaden engagement with the circular economy. The group is ready to integrate its infrastructure and technology, ensuring a smooth transition for users, brand partners and the entire eBay community towards a more connected and sustainable future.
On July 11, 2023, the transaction was completed, with no further information being made public. Since its founding in 1995, eBay has been a pioneer in global commerce, bringing together millions of buyers and sellers in more than 190 countries. Nearly $74 billion in gross merchandise volume was made possible by eBay in 2022.
This acquisition is a significant step for eBay in improving its fashion category and fighting against counterfeit products, providing a safer and more authentic shopping experience for its users.
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