LINE

Text:AAAPrint
Society

Moutai scandal wipes shine off Vipshop

1
2016-01-12 16:06CRIENGLISH.com Editor: Wang Fan

A scandal involving pirated liquor is cooling enthusiasm on the markets for Chinese e-commerce giant Vipshop.

Vipshop has apologized for its lack of transparency in handling the incident as some said that the website had sold fake Moutai liquor and the case has been dragging on for over two weeks.

Vipshop's share has been moved down 20 percent since the scandal broke right around Christmas.

The company has pledged that it will refund money to people who bought fakes.

Meantime, it has also promised to suspend selling all brands of liquor.

Moutai is China's most famous brand of local liquor.

An individual bottle of Moutai usually costs more than 1,000 yuan or 150 U.S. dollars.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.