Fendi and Wal-Mart settle dispute

The battle against counterfeit luxury goods took a new turn this week when Fendi and Sam's Club, a division of Wal-Mart, settled out of court a dispute that claimed the value retailer sold fake handbags and leather goods with the Fendi logo. Under the sealed agreement, Sam's Club agreed to pay the Italian luxury firm a confidential amount to settle the dispute and dismiss the action, which had charged the retailer with selling "significant quantities" of counterfeit items valued "in the millions of dollars." Sam's Club is also offering its customers a full refund for any counterfeit Fendi bags, wallets and scarves they purchased.

"We're pleased with this outcome," Michael Burke, chairman and chief executive officer of Fendi, told WWD. "It's good for our customers, our trademarks and their customers, too. Counterfeiting is a global problem." Burke declined to discuss specifics about the Sam's case, but pledged to continue Fendi's efforts against counterfeiting, disclosing that the luxury brand has filed suits against five other U.S. retailers: Burlington Coat Factory, Ashley Reed, Filene's Basement, Annie Sez and Colton International. Those cases continue. He noted that counterfeit goods were also widely distributed in Europe .

7 June 2007

Fendi to show on China's Great Wall

Italian luxury house Fendi seems to be putting its troubled past behind and is to be the first luxury house to stage a fashion show on the Great Wall of China in autumn of this year. The Italian fashion giant, best-known for its Fendi Baguette bag, is owned by LVMH Moët Hennessy Louis Vuitton, and counts Karl Lagerfeld as its creative director. Fendi is moving forward and is further gearing up to launch a new fragrance and open boutiques in markets from Turkey to Qatar. Fendi is also moving into fine jewellery and hotels and bolstering its website to provide better links to e-commerce partners such as Net-a-porter.

"It's a very positive moment. Whatever is happening is happening with a lot of passion," Fendi chief executive Michael Burke told WWD . “ Burke stated sales last year came in at roughly 300 million euros and would grow at a "substantial double-digit" rate for the current year and were on track to meet LVMH's original goal of hitting 500 million euros by 2008. Burke said Fendi wanted to grow by an average of 20 percent to 25 percent each year for the next five years.

www.fendi.com
1st May 2007

Fendi does film

Italian luxury house Fendi, a long favourite for featuring its furs in Hollywood's most glamouries films, is to host the opening ceremony of the Nastri d'Argento, Italy's primary film event, in its remodeled Palazzo Fendi. The event takes place this Saturday. "We like to find events that have common roots and the Nastri d'Argento are to Rome what the Academy Awards are to Los Angeles," said Michael Burke, Fendi's chief executive officer.

"The timing felt right and this event is relevant to our brand because Fendi products have always been in films. Italian actors and actress have world-class talent that is underexposed and that needs to be communicated in a more contemporary and global manner," Fendi CEO Michael Burke stated.

Founded in 1946, the Nastri d'Argento are Italy's most prestigious and oldest awards, where critics and journalists belonging to the Sindacato Nazionale Giornalisti Cinematografici Italiani vote the winners for the various categories. "Obviously, it's not Venice or Cannes because it's not a marketplace for movies or a commercial moment, but it's a great partnership for us," said Burke.

As part of the project, Fendi has established a new award called Fendi Film — Talento 2005, aimed at putting rising stars on the film industry's radar. Silvia Venturini Fendi, the brand's accessories director and men's wear designer, will award the prize on Feb. 4.