LVMH in Talks with TikTok on Counterfeits
January 21, 24
(IDEX Online) - LVMH, parent company of Tiffany & Co, TAG Heuer and many other jewelry brands, is reportedly in talks with TikTok to crack down on sales of counterfeit goods on the Chinese video-sharing app.
The "shoppable video" marketplace TikTok Shop was launched in the US last September and aims to generate $17.5bn of e-commerce business this year, but it is becoming a popular marketplace for fake goods.
Amazon.com,JD.com and Alibaba's Tmall have all tried, with varying degrees of success to outlaw the counterfeiters.
Toto Haba, senior vice president of global omni-marketing for the LVMH beauty brand Benefit Cosmetics, told Fashion Network: "It's important for us to guard our IP.
"TikTok and ByteDance (its parent company) seem much more willing to talk with us on that and set the right guardrails."