Shanghai's most famous street market, Xiangyang Road Fashion and Gift Market, was shut down this week. The market was famous for its cheap, designer knock-offs and was hugely popular with locals, as well as tourists for many years. More recently, the government began to crack-down on forgeries on behalf of the foreign investors and businesses that they were trying to attract to the country, and the market crowds dwindled somewhat. Immediately after the close, some vendors moved to neighboring buildings and streets, but the area will never be the same again. The Chinese government plans to redevelop the area to have a metro line and, possibly, ultimately turn it into a residential sector instead of a commercial one.

Fendi has filed suit against Wal-Mart after accusing the retailer of selling counterfeit bags while representing them as the real thing. The bags in question were sold at the warehouse Sam's Club stores, which are owned by Wal-Mart. Fendi asserts that Wal-Mart never purchased products from them, nor did they inquire as to the authenticity of the goods they were buying from their suppliers. As the stores were selling the bags for 45% below retail, it  does seem quite possible that they "fell off the back of a truck" somewhere, though Wal-Mart declined to comment.

Somehow, the "don't ask, don't tell" acquisition strategy seems like it is most effective when purchasing a single bag in a back alley somewhere - though still not great from the designer's perspective - than when the world's largest retailer, already under a lot of scrutiny, starts buying them in bulk.