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Strategies & Market Trends : Making Money is Main Objective
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To: Softechie who started this subject1/22/2001 10:45:45 AM
From: Softechie  Read Replies (1) of 2155
 
Calvin Klein, Warnaco Settle Dispute

NEW YORK (Reuters) - Calvin Klein Inc. and Warnaco Group Inc. (NYSE:WAC - news) settled their bitter trademark dispute on Monday minutes before a jury was to be picked to decide whether the apparel maker wrongfully sold the designer's jeans to discount clubs.

Calvin Klein told reporters after the deal was announced in Manhattan federal court that the terms would not be made public. ''It's confidential,'' he said.

The legal dispute began in May, when Calvin Klein sued Warnaco and its chief executive, Linda Wachner, in Manhattan federal court, alleging they violated his lucrative trademark and broke a licensing contract by distributing Calvin Klein jeans to discount retailers like Sam's Club, BJ's and Costco. Warnaco then countersued.

``The parties believe their resolution will protect and promote the integrity and success of the Calvin Klein brand for their mutual benefit and the benefit of other Calvin Klein licensees,'' the two companies said in a statement.

``The parties look forward to expanding jeanswear sales consistent with the image and prestige of Calvin Klein products and to expanding and concentrating the distribution of Calvin Klein jeanswear products in the department and specialty stores,'' they added.
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