THE WHAT? LVMH is said to be in talks with TikTok in a bid to fight the fakes. The social media app and luxury goods conglomerate are hoping to team up to tackle the issue of counterfeit goods being sold via the platform.
THE DETAILS According to a report published by Bloomberg, potential measures include ‘guardrails’ that will flag suspicious products and sellers.
THE WHY? LVMH is hoping to defend its intellectual property while TikTok is hoping to build a reputation as a trusted marketplace, particularly in the US where is aims to grow its e-commerce operation 10-fold this year, Bloomberg reports.