Shanghai's Fake Market Is Getting Shut Down

For those of you who manage luxury brands, it’s truly a relief that the Nanjing Xi Lu Fake Market, also know as Taobao City, will be closing by the end of this month. But for the rest of us, well, it's going to be a while before we can rock Gucci down to the socks.

Dealers at the fake market tout their products at incredibly low prices, and customers bargain to get an even better deal. Despite their obvious infringement of copyrights of more than 150 world-reknowned brands, the market has remained largely unregulated and consumers are free to peruse as they please.

According to Shanghai Television in 2012, an investigation at the fake market revealed that a member of a major counterfeit organization controlling around 30 shops in the fake market was actually the manager of the company that the market is registered under. Could a similar situation be the reason behind this shut down?

UPDATE (June 3, 2016 at 12 PM CST): This article has been updated to reflect the correct time of the report from Shanghai Television.

[Image Via Trip Advisor]