Paris-based Kering SA (PPX.FRA) – owner of Gucci, Yves Saint Laurent, Balenciaga and other brands – has filed a lawsuit in federal court in Manhattan against Alibaba Group Holding (BABA.NYSE), alleging that the latter firm and its associated companies “knowingly encourage, assist, and profit from the sale of counterfeits on their online platforms,” The Wall Street Journal reported, citing a copy of the filing. Alibaba denied the allegations and said it had a strong track record of helping brands fight counterfeits. The suit is Kering’s second against Alibaba; the first was filed last July before Alibaba’s initial public offering, but was withdrawn two weeks later.
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