Italian high-fashion house Fendi announced it has reached a settlement in which it has received a payment of USD2.5 million to resolve its 2006 lawsuit charging US-based Filene’s Basement chain, which later filed for bankruptcy, and its then parent company, Retail Ventures Inc. (RVI), with purchasing and selling counterfeit Fendi products. RVI is also banned from selling any Fendi branded products without Fendi’s prior written authorisation.
Michael Burke, chairman and CEO of Fendi, said, "Fendi takes very seriously the responsibility we have to protect our brand, our trademarks and our customers. Retailers must recognise and uphold their obligation to verify their sourcing and sell only authentic goods. The Filene’s/RVI settlement ensures that the burden of ascertaining authenticity rests squarely where it should – with the retailer. The resolution of this case was complicated, of course, by the Filene’s bankruptcy filing, but Fendi successfully persevered. We will continue to take action to protect our intellectual property around the world."
The Filene’s/RVI settlement agreement and injunction follow other recent victories in Fendi’s anti-counterfeiting efforts, examples of which include a USD4.7 million contempt judgement against US-based Burlington Coat Factory Warehouse, a separate summary judgement against Burlington for wilful counterfeiting for an amount now being quantified by the court, and a settlement announced with US-based Big M Inc., which runs stores under the name Annie Sez.
This story was provided by Business Wire.
(Source: Business Wire)