Luxury group Kering drops court case and partners with Alibaba for anti-counterfeiting taskforce

French luxury group Kering and Alibaba Group have established a joint task force to fight against counterfeiting on Alibaba’s online marketplaces.
The deal, which was agreed last week, will see Kering drop its lawsuit against Alibaba and Alipay, the Ant Financial subsidiary that is part of Alibaba Group.
Kering, which owns the luxury fashion brands Gucci and Saint Laurent, launched the legal action in 2015 accusing Alibaba of being complicit in the sale of counterfeit goods on its websites