January 19, 2015

The Fashion Scoop: PUMA Hit With $75Million Lawsuit

Well,well...it is not all rosy at team Puma right now.Parigi Group Ltd., which has licensed Puma's kidswear for a decade, is suing Puma for more than $75 million for alleged breach of contract and defamation. The lawsuit claims that "Puma intentionally and fraudulently made repeated misrepresentations to Parigi that Puma intended to renew the parties' more than 10-year-long license agreement." It also alleges that Puma disclosed trade secrets and proprietary business information to United Legwear & Apparel Co. and tried to discredit Parigi among retailers such as Bloomingdale's and Macy's.

Jay Penske Considering What??

Oh say it isn't so...Word on the streets is that Jay Penske, who took over Fairchild in August, is mulling a change that could cut the frequency of the print edition of Women’s Wear Daily.
Penske this week also made a key hire by bringing back Stephanie George to be Fairchild’s vice chairman. The former executive vice president of Time Inc., who had been a publisher of Fairchild’s W earlier in her career, is expected to play a key role in any transformation.
One of the items up for discussion is printing a glossy weekly version of to-be-developed WWD Magazine. WWD lost its longtime sibling, W magazine, with Condé Nast’s sale of the company to Penske. W stayed with Condé.
Penske is known for his digital publications, including Deadline Hollywood,  that he bought from Nikki Finke, and the one-time print title Hollywood Life, now edited as a digital-only title by Bonnie Fuller. Penske took over Variety in October 2012, and by February 2013 had folded the daily print edition in favor of going all digital.
But the source said Penske is unlikely to do away with print entirely.
Kate Spade New York Embarks On New Partnership
Kate Spade New York is certainly having a better time than Puma and we hope it stays that way.
Global Brands has entered into a licensing agreement with Kate Spade New York to produce its cold weather accessories starting this month. 

No comments:

Post a Comment