China’s giant trading company Alibaba emits fear among companies in the international community and knowing this, is the beginning of wisdom.
Image shows Alibaba's executive.
The International Anti-Counterfeiting Coalition (IACC) based in Washington DC accepted Alibaba in its fold but the result isn’t heart-warming as most multi-national companies are quitting the union out of fear and anger.
Gucci America is the second company to quit following Michael Korrs exit last month.
Image shows Gucci America’s office in Shenzhen, China.
The Chinese e-commerce giant Alibaba became a confirmed member of the IACC last April.
These exiting companies apparently full of wisdom have fear for Alibaba which they allege to be toxic. The Chinese company is also said to be a big threat to competitors for one big reason, ‘imitations’.
Questions have been raised on how this acclaimed toxic giant is effectively fighting fakes within China as it prepares to go global. There has also been issues relating to scam within the company’s trading services in which millions of dollars has been lost to internet frauds.
For the damages and fear caused through ineffective control measures against fakes and scams by Alibaba group, Gucci, together with other Kering Group brands like Balenciaga have initiated a legal case in a New York federal court.
They accuse the Chinese company of cheating through allowing sales of counterfeit products in its e-commerce platforms and therefore, benefiting against competitors.
Though it could be said that Alibaba is making efforts to crack down on companies manufacturing and selling those fake products within China, it is believed that the declaration is a hoax.
The Alibaba business group dismissed the allegation, calling it a “wasteful litigation.”
A Quora user advised: “The underlying issue that some sellers on Alibaba are frauds is not unique to the platform. Here in the states Ebay faces the same problem on a similar scale. When looking for suppliers on Alibaba ensure you look at their reputation BEFORE purchasing. Alibaba is here to stay, just be a smart consumer and research before you buy. Cheers! “
What is this company said to be a hybrid of Amazon and eBay doing to fight crimes that’s reducing it’s online trading credibility to an all-time low?
In an act of wisdom and a bid to erase fear, the website FastCompany has this to say: Alibaba Hires Hundreds To Combat Counterfeit Products In The Face Of Blacklist Threat