Dayum! We thought it was all good between family!
According to the suit, both labels and their real estate brokers hashed out a deal in February of 2011 that would assign MaxMara's lease on Kalakaua Avenue aka "Luxury Row", over to Prada.
Under the terms of the agreement, Prada put down a hefty amount of ca$$$h as a deposit and in exchange, was given the right to take possession of the property on July 1, 2011.
Everything was fine up until June, when MaxMara decided to take everything back and needless to say Prada isn't too happy about it.
After all is said and done Prada's seeking "millions of dollars in damages" for breach of contract, breach of the covenant of good faith and fair dealing and promissory estoppel.
[Images courtesy of Prada & MaxMara.]
Tags: brand, deposit money, design, family, fashion, filed suit, honolulu, july 2011, june 2011, kalakaua avenue, lease, luxury, luxury brands, luxury row, maxmara, prada, retail, retail stores, suing, waikiki