Alibaba spends $161m to combat fake goods
China’s Alibaba Group Holding Ltd, the world’s largest e-commerce company, spent over 1 billion yuan ($160.7 million) combating fake goods and for improving customer protection from the beginning of 2013 to the end of November 2014, the firm said recently.
“From Alibaba Group’s perspective, we bear a serious responsibility in this fight against counterfeits,” said Jonathan Lu, Alibaba Chief Executive in a statement. Alibaba has been tackling counterfeit products with greater aggression in recent years, particularly in the run up to its record-setting $25 billion listing in New York in September.
Related Posts
Low taxes on tobacco products give green light to Ukraine’s smugglers
With cigarettes being so cheap in Ukraine, there’s a wide margin for smugglers to...
Goa-made alcohol worth Rs 25 lakh seized in Kolhapur
KOLHAPUR: The flying squad of the state excise department’s Kolhapur division on...
Five Irish arrested by Spanish police in smuggling swoop
Five Irish nationals, a Norwegian and a Spanish lawyer have been arrested in what...
Stop to tobacco smuggling urged
The alarming rise in seizures of contraband and counterfeit cigarettes by customs...