Gaopeng Admits to Selling Counterfeit Tissot Watches

DoNews, 11/07/11

Gaopeng, the group buy joint venture between Groupon and Tencent (0700.HK), has admitted to selling counterfeit Tissot watches. SMH International Trading (Shanghai) Co. Ltd., a subsidiary of The Swatch Group and sole Tissot importer for the mainland China market, appraised the watches as counterfeit. Gaopeng has notified the authorities and begun taking legal action, as well as offering RMB 200 in compensation to all affected consumers in addition to a full refund.

Gaopeng said that the participating merchant, Tianjin Jin San Shangmao Co., Ltd., provided false documentation, and that auditing personnel failed to meet their responsibilities and will be disciplined.

Editor's Note: For more information on this topic, please see "Gaopeng Accused of Selling Counterfeit Tissot Watches," MD 11/04/11 issue.

Keywords: scandal law litigation Internet Tencent 0700.HK Groupon Gaopeng e-commerce group buying JV

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily