(Yicai Global) Aug. 4 -- Internet goliath Alibaba Group Holding Ltd. [NYSE:BABA] has agreed to work with Kering SA [EURONEXT:KER], which owns luxury brands Gucci, Balenciaga and Saint Laurent, to protect intellectual property (IP).

Kering, Alibaba and its affiliate Ant Financial Services made a pact to jointly take enforcement actions -- online and offline -- against infringers, Jiemian.com reported.

Kering said it will drop its lawsuit filed in New York against Alibaba and Alipay, Ant Financial's third-party mobile payment platform, as part of the deal.

The companies agreed to set up a task force together and collaborate with law enforcement agencies to take appropriate actions against IP infringement of Kering's brands identified by Alibaba's technologies.