Gucci and GUESS have ended a nine-year long global legal battle in an agreement over Gucci‘s iconic “G” logo and diamond pattern, reports Business of Fashion.
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 US 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.”
For the full story, head on over to Business of Fashion.
In more Gucci news, the fashion imprint and Spanish artist Ignasi Monreal debut a classical art-inspired line.