French luxury group Kering said it will drop its lawsuit against Alibaba Group Holding Ltd., agreeing to work with the Chinese e-commerce emporium to fight the sale of fake products.
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 ...
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