- Kering to drop U.S. lawsuit against Chinese e-commerce giant
- Amazon rival stepping up bid to win trust of luxury brands
The owner of Gucci and Saint Laurent has established a joint task force with Alibaba to take action against sellers of counterfeit products on- and offline, the companies said in a statement.
The deal is a breakthrough for Alibaba as it tries to convince brands that it will step up efforts to counter fakes. Accusations of Alibaba’s unwillingness or inability to eradicate illegal merchandise culminated in a lawsuit filed in the U.S. by Kering in 2015 against the Chinese e-commerce giant.
“It’s clear that Alibaba wants to become a more serious player in luxury,” said Luca Solca, an analyst at Exane BNP Paribas….