French luxury group Kering and Chinese e-commerce company Alibaba announced their cooperation on Thursday to protect brands' intellectual property rights.
In a joint press release, the partners said the new partnership would see the companies "fight against infringers in order to provide the best consumer experience and a trusted environment."
"This agreement reflects the parties' firm belief that taking proactive measures and using advanced technology will help law enforcement bodies and other relevant authorities address the challenges of intellectual property infringement," they added.
Under the agreement, the two groups had set up "a joint task force" aimed at "collaborating fully, exchanging useful information, and working closely with law enforcement bodies to take appropriate action against infringers of Kering's brands identified with Alibaba's advanced technology capabilities."
As part of the new cooperation, the French luxury group has dropped its lawsuit against the Chinese e-commerce giant filed in 2015 in New York over alledged counterfeit brands sold on Alibaba's websites.