Posted 05/18/2015 at 7:29 AM
Posted 2 years ago
The Chinese online retail giant Alibaba is getting more news attention, but not with the more sterling aura it’s been used to since their surprising valuation on Wall Street.
Recent allegations have been brought against the company by Kering, the luxury brand corporation whose properties include Gucci and Yves Saint Laurent among them, that claim that the site allowed various counterfeiters to blatantly sell products that were imitations of theirs online.
Kering filed a lawsuit in conjunction with the claims, their second since last year.
Alibaba had come to a settlement with the brand empire on the first lawsuit after their initial public offering that saw their value skyrocket.
From that point, they doggedly continued their campaign to sweep the retail site clean of all counterfeit products, with some estimates finding over 100 million such items to be expunged.
When contacted for a reaction, a spokesperson for Alibaba replied, “We believe this complaint has no basis and we will fight it vigorously.”