Richemont joins Alibaba’s anti-counterfeiting alliance

Switzerland based luxury goods company has joined Alibaba’s anti-counterfeiting alliance whose aim is to secure the intellectual property rights on the e-commerce platform.

For a long time, Richemont has been an anti-duplication crusader which has a strong legal team that monitors watch and jewellery platforms that sell their goods. McDonald’s, General Motors, New Balance and Richemont are the newest global brands to join Alibaba’s anti-counterfeiting alliance. The membership has tripled from the previous 30 founding member brands during its launch in 2017.

Alibaba works with its brand partners to locate and eliminate fakes at their sources. Particularly in the luxury sector Louis Vuitton and Alibaba are one of the first members of AACA conducted an offline investigation which has resulted in the confiscation of fake goods worth $14.4 million.

Alibaba’s Senior Vice President Michael Yao said that the protection of intellectual property rights requires all the stakeholders to work closely together and share their knowledge on the same. The alliance will continue to establish the best industry practices for IP protection by entering into an alliance with brands, platforms and law enforcement.

Net and Mr Porter will open online stores on Alibaba’s luxury pavilion. YNAP and Alibaba said they plan to explore future offerings to enable the JV’s customers to enjoy ‘unique and seamless online and offline shopping experiences’ through digitizing and completely integrating the retail value chain from merchandising and marketing to payments and last mile delivery. The venture will focus on serving the consumers in China which will also extend to Chinese consumers visiting abroad.

Source: WWD.com