Alibaba Promises to Crack Down on Counterfeiting - Will Luxury Brands Buy It?
May 12, 2016 Forbes - Sometimes, it’s hard to shake off a bad rep. China’s Alibaba is learning so the hard way. The e-commerce platform – the country’s largest – has recently been at the center of a storm with the fashion and luxury sectors, and, despite its apparent aspiration for change, things aren’t getting better. Yet.
In April, the online retail giant was accepted into the International AntiCounterfeiting Coalition (IACC), a nonprofit group of some 250 members – including Adidas, Burberry and Apple, to name a few – dedicated to stopping counterfeiting and piracy. The decision was no doubt aimed at giving the Chinese company – notorious for the large volume of fakes and knock-offs it allows on its shopping platforms – the opportunity to present a new, ‘cleaner’ image to the West and its domestic customers. What it led to, however, was quite the showdown among some of IACC’s members.