Gucci alleged that GUESS’s similar-looking pattern are direct copies of its trademark, and the dispute began when Gucci took GUESS to a New York federal court in 2009, accusing the brand of counterfeiting, unfair competition and trademark infringement, referencing the interlocking “G”s that appear on a line of GUESS shoes.
A U.S. district judge awarded Gucci with $4.7 million in damages for GUESS’s breach of its signatures in 2012, however, the Italian luxury brand was originally looking for a $221 million payout.
While terms of this new agreement were not disclosed, it “will result in the conclusion of all pending intellectual property litigations and trademark office matters worldwide.”
In a joint statement, the two parties shared, “The agreement is an important step for both companies in recognizing the significance of protecting their respective intellectual property portfolios and design creativity.”
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- Source: Business of Fashion