Alibaba boss says fakes are better than the real thing
16/06/2016
"The problem is that the fake products today, they make better quality, better prices than the real names," he said during a speech in Hangzhou, China. He added that these counterfeit products were made in the same factories with the same materials, but that they were cheaper as they didn’t use the brand names.
Mr Ma insisted, however, that Alibaba would “do anything” to tackle counterfeit products and that he was "more and more confident than ever that we can solve the problem”.
Alibaba was suspended in May from the International Anti-Counterfeiting Coalition (IACC) watchdog after luxury brands Gucci, Michael Kors and Tiffany quit the group over the Chinese company’s inclusion.
Following the decision Alibaba said that it would continue to collaborate with the industry on anti-counterfeiting efforts, “whether or not we are a member of the IACC”.
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