Time called on Taobao fake watches
By Li Qian |
November 30, 2011, Wednesday
|
Print Edition
Print Edition
TAOBAO Mall has banned a dealer for selling counterfeit watches, the first time the online retail giant is believed to have taken this action.
Guangdong-based Taoyi Watch Store is said to have sold 1,500 fake Casio watches worth 900,000 yuan (US$141,300).
The dealer offered so-called imported Casios for 599 yuan each - 70 percent lower than the usual price, the News Express reported yesterday.
But one suspicious customer, Wang Hui, had his watch examined by an official Casio dealer in Guangzhou, capital of Guangdong Province, which confirmed it was a fake, the report said.
Unlike other e-commerce websites, Taobao Mall says it verifies each registered retailer, which led consumers to believe the watches - which were snapped up in hours - were genuine.
Taoyi Watch Store, one of Taobao's earliest clients, had enjoyed a high reputation.
It is the first business shutdown by Taobao Mall, a source at Taobao said.
The source claimed Taobao did not follow a careful verification process.
Taobao has promised cash compensation double the price buyers paid for the fake watches. Earlier, Taobao indicated compensation would be three times the price.
Taobao has faced opposition from vendors since it introduced higher fees.
Guangdong-based Taoyi Watch Store is said to have sold 1,500 fake Casio watches worth 900,000 yuan (US$141,300).
The dealer offered so-called imported Casios for 599 yuan each - 70 percent lower than the usual price, the News Express reported yesterday.
But one suspicious customer, Wang Hui, had his watch examined by an official Casio dealer in Guangzhou, capital of Guangdong Province, which confirmed it was a fake, the report said.
Unlike other e-commerce websites, Taobao Mall says it verifies each registered retailer, which led consumers to believe the watches - which were snapped up in hours - were genuine.
Taoyi Watch Store, one of Taobao's earliest clients, had enjoyed a high reputation.
It is the first business shutdown by Taobao Mall, a source at Taobao said.
The source claimed Taobao did not follow a careful verification process.
Taobao has promised cash compensation double the price buyers paid for the fake watches. Earlier, Taobao indicated compensation would be three times the price.
Taobao has faced opposition from vendors since it introduced higher fees.
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