LONDON - Luxury goods may be one luxury that eBay can no longer afford.
On Monday a French court ordered the Californian online auctioneer to pay 39.9 million euros ($62.9 million) to the luxury goods company LVMH for allowing the sale of counterfeit goods on its online auction site.
“We are very satisfied with this ruling,” an LVMH spokeswoman told Forbes.com. EBay said it would appeal the decision.
LVMH closed up 0.8%, or 53 euro cents (83 cents), to 66.58 euros ($104.77) in Paris on Monday, while eBay ticked down 0.3%, to $27.53 in New York midday trading. Read more…
According to Vidya Ram
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