By Jonathan Davies

The Kering Group, the US owners of designer fashion brands Gucci and Yves Saint Laurent (YSL), have sued Chinese ecommerce giant Alibaba over allegations of counterfeiting.

Kering Group says Alibaba is facilitating the sales of goods imitating the Gucci and YSL brands.

Alibaba denied the allegations, suggesting it plans to fight the law suit.

It said: "Unfortunately, Kering Group has chosen the path of wasteful litigation instead of the path of constructive cooperation. We believe this complaint has no basis and we will fight it vigorously."