Well-known Chinese news site Sina recently reported that U.S. luxury brand Tiffany announced its withdrawal from the International Anti-Counterfeiting Coalition (IACC), which is the top international organization leading the fight against counterfeiting. The IACC is currently headquartered in Washington DC with over 250 well-known brands as members. Tiffany quitting the IACC Board and dropping its membership. The IACC accepted China’s largest online shopping host Alibaba as a member in April. That Alibaba got on-board caused a lot of dissatisfaction among IACC members. Before Tiffany, Michael Kors and Gucci had already withdrawn from the IACC. According to a report that China’s State Administration for Industry and Commerce released, only one third of the products sold on China’s largest online shopping site Taobao, which Alibaba owns, were not counterfeits. In previous years, well-known brands such as Gucci, Saint Laurent, and Puma took Alibaba to a New York court. Alibaba refused to accept the accusations but agreed to "try its best" to ban counterfeits on its platform. This promise did not gain trust from any of the victims.
Source: Sina, May 12, 2016
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