E-commerce conglomerate Alibaba Group's Xianyu Auction platform is gearing up its expansionin used luxury sales, by cooperating with the China Certification & Inspection Group luxuryidentification center.
Xianyu Auction inked a cooperation deal with the luxury identification center on Friday, saying itwould work closely with the center to regulate the quality of used luxury items.
"Together with the center, we can control the quality of used luxury goods, effectively stoppingfake goods entering our platform. Then we could better protect consumers' interests," said GuoZuli, head of Xianyu Auction's luxury business department.
Under the agreement, Xianyu Action will launch a special section dedicated to the items, whichhave been approved by the center as authentic.
Early in 2014, Alibaba launched an online flea market platform called Xianyu for people sellingused goods. Then Alibaba merged Xianyu with its online auction business together into XianyuAuction in May, aiming to creating the biggest sharing-economy platform in China.
With the improvement of living standards, people now own a large amount of used goods.Shanghai-based enterprise data aggregator CBNData's report shows that in 2016 China's usedgoods market is expected to reach 400 billion yuan ($60 billion).
According to Alibaba's previous statements, Xianyu Auction would connect users, the mobilecommunity and commodity trading together, sketching a huge blueprint for a sharing economy.
The Beijing-based China Certification & Inspection Group luxury identification center is the firstindependent body dedicated to provide luxury identification and certification.
