Groupon apologises for fake watch sales in China

Nov 08, 2011
US online daily deals firm Groupon said Tuesday it has apologised and offered refunds to customers who bought fake watches from its Chinese unit, days after making its US stock market debut.

US online daily deals firm Groupon said Tuesday it has apologised and offered refunds to customers who bought fake watches from its Chinese unit, days after making its US stock market debut.

Groupon will fully repay people who bought Tissot brand on its Chinese website Gaopeng.com, and give as much as 400 yuan ($63) in additional compensation, according to a statement sent to AFP.

"We are deeply sorry about the inconvenience the matter caused for consumers," said Groupon, which launched its Chinese venture in partnership with local Internet giant in February.

Groupon is facing tough competition in China, which has the world's largest Internet population with more than 500 million users, since many Chinese firms have already started sites offering discounts for group purchases.

The US company has accused the watch supplier, Tianjin Jinsan Commercial and Trade Co, of providing allegedly fraudulent information for claiming to be a sales agent for Tissot. It has reported the case to police.

Sarah Shen, a Shanghai-based spokeswoman for Swatch Group, the Swiss firm that owns the Tissot brand, confirmed to AFP that the watches were copies.

Groupon said the incident had exposed "negligence" among its own staff for failing to examine merchants.

It offered the men's sports watches at 690 yuan each in a deal in October, saying the original price was 3,500 yuan, according to its website. The deal ended with more than 200 buyers.

The company debuted on Wall Street last Friday, with its shares jumping more than 30 percent after it raised $700 million in the biggest by an since .

Explore further: Hackerspaces used to turn ideas turn into reality

add to favorites email to friend print save as pdf

Related Stories

Groupon's public valuation close to $20 bln: report

Apr 15, 2011

US coupon deals website Groupon will likely pick Goldman Sachs Group and Morgan Stanley to be principal underwriters for its public offering later in the year, valuing the company at up to $20 billion, the ...

Startup serves up bargains to online shoppers

Apr 05, 2011

As startups rush to offer smartphone users coupons for discounts at nearby shops, Dealpulp.com is out to woo the bargain hunter inside online shoppers across the United States.

Groupon shares soar after $700 million IPO

Nov 04, 2011

Groupon shares soared on Wall Street on Friday after the online daily deals sensation raised $700 million in the biggest initial public offering by an Internet company since Google.

Bargain-minded Chinese embrace group-buying craze

Mar 28, 2011

Like millions of Chinese, Liu Wen has fallen in love with group buying, which has electrified e-commerce in a country where getting the best possible discount is virtually a national pastime.

Recommended for you

Hackerspaces used to turn ideas turn into reality

1 hour ago

At HeatSync Labs, the tables are littered with computer chips, pens, pads and tools while the room is abuzz with the chatter of would-be inventors hoping to change the world—or just make cool things. They are part of a ...

China Telecom profit rises as mobile data grows

1 hour ago

China Telecom Ltd., one of the country's three main state-owned carriers, said Wednesday its profit rose 11.8 percent in the first half of the year as its Internet and mobile data businesses grew.

Snapchat valued at $10 bln

2 hours ago

US media on Tuesday reported that Snapchat was valued at $10 billion based on funding pumped into the startup by a powerhouse Silicon Valley venture capital firm.

User comments : 0