LVMH in talks with TikTok to counter counterfeit challenges

LVMH is reportedly engaged in discussions with TikTok and its parent company, ByteDance Ltd., to tackle the issue of counterfeit products on the popular video-sharing platform. Toto Haba, Senior Vice President of Global Omni-Marketing for Benefit Cosmetics, an LVMH-owned beauty brand, disclosed that the talks are centered on cultivating an "elevated shopping experience" amid TikTok's global marketplace expansion, as was reported by Bloomberg.

French luxury conglomerate LVMH, parent to brands including Louis Vuitton and Christian Dior, already collaborates with Alibaba Group to combat counterfeit goods on its Tmall marketplace.

The potential collaboration with TikTok emerges as a strategic move to bolster the platform's standing among brands and consumers, especially amidst its ambitious goal to amplify its US e-commerce business to 17.5 billion dollars by 2024, Bloomberg said.

TikTok Shop's notable integration and expansion plans underscore the challenges confronted by online marketplaces, emphasising LVMH's positive outlook on the discussions as a crucial step in safeguarding intellectual property.