Groupon’s Chinese daily deals website has promised to refund hundreds of customers after Tissot-branded watches sold in a deal last month turned out to be counterfeit.
The incident highlights the risks Groupon faces in the Chinese market, just days after it stunned observers with an initial public offering which valued the company at more than $12bn.
More than 500 Chinese consumers from 10 different cities who bought the fake watches for Rmb690 ($108) apiece have organised themselves in two groups on QQ, the world’s largest instant messaging system, to protect their rights and exchange information.
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