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Alibaba Spent $161 Million Fighting Fakes Since 2013


Ron Burgundy
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The logo of the Alibaba Group is seen inside the company's headquarters in HangzhouBEIJING (Reuters) - China's Alibaba Group Holding Ltd, the world's largest e-commerce company, spent over 1 billion yuan ($160.7 million) combating fake goods and for improving customer protection from the beginning of 2013 to the end of November, the firm said Tuesday. "From Alibaba Group's perspective, we bear a serious responsibility in this fight against counterfeits," said Alibaba Chief Executive Jonathan Lu in a statement. ...




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