The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — LVMH Moet Hennessy Louis Vuitton and eBay Inc have settled a long-running court battle over the sale of counterfeit luxury goods on the U.S. company's online auction website.
The companies are implementing cooperative measures aimed at protecting intellectual property rights and fighting the online sale of counterfeit goods.
"Thanks to our joint efforts, consumers will enjoy a safer digital environment globally," the companies said in a joint statement, without giving detail on the measures.
A host of perfume and cosmetic brands under the LVMH umbrella, including Christian Dior, Givenchy and Geurlain, sued the world's leading online auctioneer in 2008, accusing the site of allowing trade in counterfeit goods. LVMH also claimed that the sale of real perfumes through non-approved distribution channels such as eBay hurt its business.
ADVERTISEMENT
In 2008 a French court ordered eBay to pay LVMH 38.5 million euros ($52.1 million). A subsequent appeal court reduced the sum to 5.7 million euros but affirmed that eBay had been in the wrong.
In 2012 a French appeal court ruled that a lower court did not have jurisdiction over eBay's U.S. website but upheld the ruling as applied to its French and British sites.
LVMH shares were down 0.6 percent at 139.15 euros on Thursday morning.
By Martinne Geller; Editor: David Goodman
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.