French group Kering agrees to drop lawsuit against Alibaba and agreed to fight against the sale of fake products. Accusations of Alibaba’s unwillingness or inability to remove illegal merchandise culminated in a lawsuit filed in the U.S. by Kering in 2015 against the Chinese e-commerce giant.
They have established a joint task force to take action against the the sellers selling fake products.
The deal is a breakthrough for Alibaba as it tries to convince brands that it will step up the efforts to counter fakes.
Alibaba Group Holding Limited is a Chinese e-commerce giant that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and cloud computing services. As china’s economy matures, they are under pressure to expand globally, with a concept of heaven of cheap products.
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