- Danielle Wightman-Stone |
Luxury conglomerate Kering, parent company to brands including Gucci and Yves Saint Laurent, is partnering with Chinese e-commerce giant Alibaba to combat the sale of fake goods on the platform.
As part of the deal, Kering has agreed to withdraw its lawsuit against Alibaba and affiliate Alipay, which was filed in the US district court in New York in 2015, and instead agreed to work with the Chinese e-commerce platform to safeguard intellectual property rights and fight counterfeiting.
“The new partnership represents a milestone in both parties’ investment and efforts to protect brands’ intellectual property rights,” said the two companies in a joint statement. “The companies have established a joint task force with the purpose of collaborating fully, exchanging useful information, and working closely with law enforcement bodies to take appropriate action against infringers of Kering’s brands identified with Alibaba’s advanced technology capabilities.
Alibaba has long faced accusations that its platform doesn’t do enough to combat the sale of fake goods and it has been working hard to change those perceptions, including forming an anti-counterfeiting alliance with Louis Vuitton earlier this year. The partnership also with brands including Samsung and Swarovski was to use 'big data' and the latest technologies in anti-counterfeiting in its global fight against copies and fakes.