COACH INC : COACH, LF USA and Target Reach Settlement in Lawsuit
05/17/2010| 04:35pm US/Eastern
Coach, Inc. (NYSE: COH), a leading marketer of modern classic American
accessories, along with LF USA, Inc. and Target Corporation, (NYSE: TGT)
today announced that all parties have amicably resolved the recent
lawsuit filed by Coach.
The lawsuit, Coach Services, Inc. v. Target Corporation, and Rosetti
Handbags & Accessories, Ltd., a division of LF USA, Civ. Action No.: 09
CV 8329 (LAK), filed by Coach on October 1, 2009, in the Southern
District of New York, alleged defendants had, among other things,
designed and sold handbags that infringed on certain of Coach's designs.
?We are pleased to have reached a settlement that is satisfactory to all
parties in this litigation,? said Todd Kahn, Senior Vice President,
General Counsel of Coach. Rick Darling, President of LF USA added, ?We
respect the integrity of all brands, including Coach, and are pleased
that this matter has been resolved in a manner beneficial to all parties
involved.? The terms of the settlement are confidential.
Coach, with headquarters in New York, is a leading American marketer of
fine accessories and gifts for women and men, including handbags,
women's and men's small leathergoods, business cases, weekend and travel
accessories, footwear, watches, outerwear, scarves, sunwear, jewelry,
fragrance and related accessories. Coach is sold worldwide through Coach
stores, select department stores and specialty stores, through the Coach
catalog in the U.S. by calling 1-800-223-8647 and through Coach's
website at www.coach.com.
Coach's shares are traded on The New York Stock Exchanges under the
LF USA is a subsidiary of Li & Fung Limited, the world's leading
sourcing company for consumer goods, managing the supply chain for
retailers and brands worldwide. Headquartered in Hong Kong, the Group
services its customer globally through a sourcing network of over 80
offices and 40 countries and territories. Corporate website: www.lifung.com
Analysts & Media:
Andrea Shaw Resnick, 212-629-2618
Investor Relations and Corporate Communications
LF USA, Inc.
Jessica Liddell, 212-994-4660
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