BABA

Alibaba Group Holding Limited American Depositary Shares each representing one Ordinary share

163.4900
USD
-0.69%
163.4900
USD
-0.69%
152.8500 211.7000
52 weeks
52 weeks

Mkt Cap 422.94B

Shares Out 2.59B

new Chat
Send me real-time posts from this site at my email

Alibaba Makes Another Move to Battle Counterfeiters

Online sales of counterfeit products drain an estimated $1.7 trillion from global revenues every year, according to one estimate. The response by some vendors to counterfeit sales has been less than aggressive, and Alibaba Group Holding Ltd. (NYSE: BABA) has been accused of being among the worst offenders.

Alibaba said on Wednesday that it is suing two vendors in Shenzhen Longgang People’s District Court for selling fake Swarovski watches, and it is seeking more than $200,000 in damages for “violation of contract and goodwill.”

This is a far cry from founder Jack Ma’s comments back in April that appeared to defend counterfeiting:

The problem is that fake products today are better quality and at a better price than the real names. They are the exact factories, the exact raw materials, but they don’t use the brand names. … We would love to work with the brand companies, but it’s not fake products destroying them —...


More