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Anti-Counterfeiting Group Suspends China's Alibaba

An anti-counterfeiting group on Friday suspended e-commerce giant Alibaba from its group after backlash from member companies that see the Chinese firm as the world's largest marketplace for fakes. In recent weeks Gucci America, Michael Kors and Tiffany have quit the U.S.-based International Anti-Counterfeiting Coalition (IACC) over Alibaba's presence among the group's ranks. The IACC also acknowledged conflicts of interest, admitting it failed to disclose to its board...

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