“Frankly speaking, on most of the platforms there’s a lot of counterfeiting, and I don’t want to certify counterfeiting, because I belong to these platforms,” Marco Bizzarri said on Oct. 16 at a Business of Fashion conference in Shanghai.
But both platforms have been involved in counterfeiting cases more than once. Mr. Lin’s wife failed to get her money back in October, when she found out the Italian luxury slippers she bought on Taobao, Alibaba
“Regardless of whether it is the traditional commerce or the new e-commerce, trust is the foundation of market economy. Merchants must stick to integrity management,” Yinjiang Chen, law expert on the Protection of the Rights and Interests of Consumers, told the Legal Daily.
Strong rebound in China is driving the global personal luxury goods market. The country’s consumption of luxury products grew by 20 percent last year and reached a high of 142 billion yuan ($20.5 billion). E-commerce contributed 9 percent, a 3 percent growth from 2015, according to the 2017 China Luxury Report by Bain, a global management company.
The fast development of China’s e-commerce fuels that growth as well. According to China’s National Bureau of Statistics, e-commerce trade volumes hit 29200 billion yuan ($4208 billion) in 2017, with an annual growth of 30 percent. The online retail sales of physical commodities accounted for 15 percent of total retail sales of consumer goods, a 4 percent rise since 2015.
“E-commerce has been described as the ‘next China’ for luxury in terms of opportunity,” said Lucie Greene, JWT Intelligence’s worldwide director in Bain’s Luxury Report 2018.