Fendi wins $2.5 million lawsuit
Italian fashion and leathergoods brand Fendi has reached a $2.5 million settlement with Filene's Basement over allegations the retailer sold counterfeit Fendi products.
Fendi North America and other Fendi units first filed suit against Filene's Basement in 2006 in the US District Court for the Southern District of New York.
In addition to the $2.5 million payment from FB Liquidating Estate, which Fendi has already received, Filene's has also agreed not to sell any Fendi branded products without the company’s written authorisation. The settlement also instructs Filene's to submit any Fendi-branded products in its possession.
Fendi CEO Michael Burke said the case was complicated by Filene's bankruptcy filing but that the company wanted to see the case through. Filene's Basement emerged from bankruptcy protection in 2009 after being purchased by off-price retailer Syms Corp.
"We will continue to take action to protect our intellectual property around the world," he said.
