Luxury brands win case against counterfeiter

Chanel and Prada have won a court case against a Chinese vendor of counterfeit products, reports Bloomberg. The Beijing Xiushui Haosen Clothing Market - the landlord of Beijing's Silk Street mall - and various vendors have been ordered to pay $13,000 in damages to the luxury goods companies.

The Burberry Group, LVMH Moet Hennessy Louis Vuitton and Gucci were also awarded damages from Xiushui Haosen. Luxury goods companies are increasingly fighting back against counterfeiters, and this win signifies a step in the right direction.