Vipshop Fined For Anti-Competitive Practices

Vipshop Fined For Anti-Competitive Practices

Vipshop logo. Vipshop

China’s antitrust watchdog has fined flash sales e-commerce platform Vipshop 3 million yuan ($464,000) for unfair competition.

It’s the second time Vipshop has been fined by China’s State Administration for Market Regulation in a three-month period, after the platform was slapped with a 500,000 yuan ($77,000) fine in December for pricing irregularities.

According to an official announcement from the regulator, Vipshop has been illegally obtaining information about brands that sell through its and competitor’s platforms. In a Weibo post, the company responded by saying it did not object to the facts in the ruling, and that it will “rectify and reform” to maintain market order.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *