From Fortune:

TikTok has become a hotspot for the sale of counterfeit luxury goods online. TikTok’s parent company, ByteDance, is looking to join forces with LVMH to address this issue. Other social media sites have also faced challenges with battling a growing market for luxury counterfeits. Younger shoppers are less bothered by owning fakes, sparking a high demand for cheaper branded products.

Despite previous struggles, TikTok has launched its e-commerce venture, TikTok Shop, in an effort to compete with other marketplaces. The app has faced challenges such as low-quality products and knock-offs on the platform. Collaborating with LVMH could help TikTok to repair its image by offering better quality products and expand its e-commerce efforts.

TikTok doesn’t allow counterfeit goods on its platform and offers guidelines on how to identify if a product is fake. Collaborating with LVMH would help in creating an elevated shopping experience. Details on their plan to tackle counterfeits are yet to be disclosed.

LVMH, the world’s most valuable luxury company, has also partnered with other companies in the past to curb counterfeits such as Google and Alibaba. They also had issues with eBay several years ago which were ultimately settled peacefully.



Read more: TikTok, LVMH to join forces in fighting fake luxury goods