Tuesday, November 8, 2011

Apology from Groupon for fake watch sales in China

Shanghai: Groupon has apologized and offered refunds to customers who have purchased fake watches from their chines unit, a few days after its adoption, the U.S. stock market debut.

Groupon is offering full refunds to people who bought Tissot watches on their website :Chinese Gaopeng.com , and provide up to 400 yuan (63 U.S. dollars) in additional compensation, according to a statement sent to AFP.

"We are deeply sorry for the inconvenience caused the problem for consumers," said Groupon, which began its adventure in collaboration with local Internet giant Tencent China in February.

Groupon, Ther American Co. has accused the wrong supplier, Tianjin Jinsan Commercial and Trade Co., allegedly giving false information to pretend to be a sales agent for Tissot. The case is also reported to plice.

Spokeswomen for the Shanghai-based Swatch Group,Sarah Shen, confirmed to AFP that the watches were fake and copied.

Groupon said the incident had exposed the "negligence" among their own staff to disregard the merchants.

Men sports watches offered at 690 yuan each in an agreement in October, saying the original price was 3,500 yuan, according to its website. The transaction was completed with over 200 buyers.

The company debuted on Wall Street last Friday, and its shares jump more than 30 percent, when it raised $ 700 million by the largest Internet IPO since Google.

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