Now we can officially say the suit is OVER!
Remember last month when a federal court awarded Gucci $4.7 million in damages stemming from a three trademark battle against GUESS and the brand's footwear licensee, Marc Fisher?
Welp, looks like the Judge Shira Scheindlin done goofed on his calculations because Marc Fisher's payment was reduced from $1.9 million to $456,183.
Marc is praising the reduction of the squander. Here's what he had to say:
“We are pleased with the judge’s decision to reduce the damages, although we are disappointed in the finding that any footwear infringed. Gucci clearly was overreaching, as reflected by the fact that more than 90 percent of Gucci’s claims were thrown out, leaving a minor dispute that could have been resolved years ago without litigation.”
We're glad to hear that the case is finally closed! It's just sad that Gucci continues to lose, even when they win!
Overall, the luxury brand will still make off with $4.6 million from all parties named in the suit, which is roughly $1.53 million for each year the case dragged on.
Tags: damages, footwear, gucci, guess, judge, judge shira scheindlin, luxury, marc fisher, payout reduced, trademark