eBay settle court case with LVMH over selling fake designer goods online
eBay and French luxury group LVMH have agreed to settle a long-running court case over the selling of fake designer goods online.
The two companies have agreed to team up to work together to stop counterfeiters using eBay.
Previously the pair had fought in court over the sale of designer perfumes online and a court in France in 2008 ordered eBay to a €38.5 million fine. This ruling was then appealed against and the fine was reduced to €5.7 million in 2012.
Michael Jacobson, senior vice-president and general counsel at eBay, and Pierre Godé, vice-president at LVMH, issued a joint statement saying: “Thanks to our joint efforts, consumers will enjoy a safer digital environment globally".
The US online auction group last night posted profits of $676m but a 13% rise in sales to $4.4 billion (£2.5 billion) were below Wall Street expectations.
