Alibaba redoubles fight against counterfeit goods
Under pressure from a number of Western brands over fake goods sold across its e-commerce platform, Alibaba founder Jack Ma has promised that the company will be doubling down on this issue.
Alongside allocating additional resources, Ma highlighted that the company is planning to add another 300 staff to assist in this – and is willing to add even more to its team of over 2,000. He has also asked for support from leading international brands, citing that an industry-wide approach is required. The company has invested $154 million (1 billion yuan) over the course of previous two years to tackle the problem.
China Business News reports that, Ma was also aware that the company faced a "difficult" task to eliminate a scourge that has been harmful to the company's reputation in the past.
Alibaba Group gained a lot of publicity in 2014, when it raised roughly $25 billion for its initial public offering (IPO) and again in Novermber for racking up $14.3 billion in a single day of sales.
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<a href="http://www.shutterstock.com/gallery-762415p1.html?cr=00&pl=edit-00">Gil C</a> / <a href="http://www.shutterstock.com/editorial?cr=00&pl=edit-00">Shutterstock.com</a>
SOURCES: [Forbes; China Business News]