Alibaba's Jack May Says 'No Chance' Of Settlement With Kering

Shares of Alibaba have lost around 27 percent from a year ago as investors have shown concerns over China's macroeconomic growth outlook, the company's own growth profile, and many other factors. Investors have also shown concerns, perhaps to a lesser degree, that Alibaba isn't doing enough to limit the amount of counterfeit goods sold on its eCommerce platform. This could cause friction among Alibaba and large global conglomerates looking to tap the lucrative Chinese market. Alibaba announced earlier in the summer several new initiatives to tackle the issue, including offering a dedicated representative to deal with complaints from companies. The Wall Street Journal

that Alibaba is "constantly enhancing and refining" its "anticounterfeiting operations." Despite Alibaba's efforts, Kering SA, the France-based owner of global luxury brands including Gucci, Balenciaga and Yves Saint Laurent sued the company. The case remains ongoing and Alibaba initially said that the suit has no basis. "I would [rather] lose the case, lose the money," Alibaba's founder and chairman Jack Ma was quoted as saying on Monday by