Author:Tyler McCallPublish date:Jun 16, 2020In late May, as tensions surrounding the deaths of George Floyd and Breonna Taylor at the hands of police and nationwide anger about police brutality against the Black community grew, protests exploded across the country. Some escalated into cases of property damage and looting, which has also opened a debate about what role looting plays in protests, if any.
Hope-Noelle Davenport, the founder of resale site HauteTrader, doesn't think that companies like hers should profit off of merchandise that was looted during protests.
Through a representative, The RealReal explained: "We're applying extra scrutiny to consignments of styles that are currently available in stores. As we always have, we will continue to work closely with local and federal law enforcement to prevent the trafficking of stolen goods.
The bigger players in the market all have established protocol for weeding out stolen goods, whether that's using the aforementioned LeadsOnline database or working with local authorities. Davenport says her tech team already has algorithms pulled from her data set to detect listings of items which have potentially been stolen.
The problem, Davis clarifies, is that the counterfeit paperwork has become even more believable than the counterfeit bags, in some cases, which makes it an imperfect system. Furthering the issue is that there's no centralized database for registering luxury goods. Davis compares it to the VIN numbers used by the automobile industry: "CarMax isn't buying stolen cars, because if they run the VIN number and it's stolen, they won't take it," she explains.
I’m on the...fence.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »