Nusrat Jahan Progga
Jack Ma, founder of Alibaba Group Holding Ltd. said that counterfeit goods made in China have gotten better than the genuine ones, which goes against the effort being made to root out fakes on the country’s largest e-shopping service.
Brands all over the world have long since relied on China and other low-cost manufacturers to reduce their cost of production. Be that as it may, those same processing plants have gotten savvier throughout the years and are currently utilizing the Internet, including Alibaba’s website, to offer their own particular items straight to buyers, Ma said on the organization’s investors gathering on Tuesday.
However, Ma still believes that Alibaba is combating the problem regarding the sales of counterfeit goods pretty well.
“The problem is that the fake products today, they make better quality, better prices than the real products, the real names,”- says Ma -“It’s not the fake products that destroy them, it’s the new business models.”
Neglecting to tidy up online bazaars like Taobao could distance shippers and customers abroad, especially during an era when Alibaba is drawing investigation from both financial specialists and worldwide brands over its notoriety for being an asylum for knock offs.
Its membership in the International Anti-Counterfeiting Coalition, a philanthropic worldwide association that battles fake items and robbery, was suspended in May after inquiries were raised about irreconcilable situations including the coalition’s leader. That is after its involvement in the gathering annoyed a few individuals who said the organization wasn’t going sufficiently far to sweep out fakes from its commercial website.
Cao Lei, the director of the China E-Commerce Research Center in Hangzhou believes that it is highly inappropriate for a person of Jack Ma’s status to say something as atrocious as that. “For some individual cases what he’s saying might be true, but it’s wrong to generalize the phenomenon.” says Lei.
Alibaba handles more e-trade than Amazon and eBay in unison. It hopes to achieve 423 million online customers around the globe this year, generally through its Tmall.com and Taobao Marketplace locales. It means to have 2 billion customers by 2036 and double the volume of mass merchandise to 6 trillion yuan ($911 billion) by 2020.