Kering drops Alibaba suit, team up to fight counterfeits

French luxury group Kering, and Alibaba Group and its affiliate Ant Financial Services have come to a groundbreaking agreement to cooperate in their efforts to protect intellectual property and take joint enforcement actions online and offline against infringers in order to provide the best consumer experience and a trusted environment.The new partnership represents a milestone in both parties’ investment and efforts to protect brands’ intellectual property rights.The companies have established a joint task force with the purpose of collaborating fully, exchanging information, and working closely with law enforcement bodies to take appropriate action against infringers of Kering’s brands identified with Alibaba’s advanced technology capabilities.As part of the agreement, Kering, which owns brands including Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen and Balenciaga, has agreed to dismiss the lawsuit filed against Alibaba and Alipay, an Ant Financial subsidiary, in the US district court in New York.Kering and its brands will continue to enforce their intellectual property rights against individuals and third parties responsible for the production, distribution and sale of unauthorised materials in China and throughout the world.