The Traderszone Network

Published in TZ Latest News 19 May, 2015 by The TZ Newswire Staff

Alibaba’s Ma says Kering lawsuit ‘regrettable’

The founder of Alibaba Group Holdings Ltd on Tuesday called “regrettable” a lawsuit by a group of luxury goods firms owned by Kering SA accusing the Chinese e-commerce giant of being a conduit for counterfeiters. Executive Chairman Jack Ma was speaking after Gucci, Yves Saint Laurent and other brands owned by Kering sued Alibaba in the United States on Friday, accusing it of knowingly making it possible for counterfeiters to sell their products throughout the world. Ma also said Alibaba was interested in investing in U.S.

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