Luxury conglomerate LVMH is in discussions with TikTok and its parent company ByteDance Ltd. on a plan for limiting counterfeit products sold on the popular video-sharing app. The aim is to work together to achieve an elevated shopping experience as TikTok expands its marketplace globally.
Toto Haba, senior vice president of global omni-marketing for Benefit Cosmetics, a beauty brand owned by LVMH, has stated that it’s important for them to guard their IP on TikTok Shop. The company is already flagging suspicious looking, benefit branded products to the company.
LVMH, which also includes 74 other brands such as Louis Vuitton, Christian Dior, Givenchy, Tiffany & Co., and TAG Heuer, has an agreement in place with Alibaba Group Holding Ltd. to fight fake goods on its online Tmall marketplace.
This deal could be a major move to help TikTok Shop’s reputation among brands and shoppers in key new markets.
TikTok also fully launched shopping in the US last year and already has ambitious targets, aiming to increase the size of its American e-commerce business 10-fold to as much as $17.5 billion in 2024. This partnership could be a significant step towards achieving that goal.
