Several lawsuits across the fashion industry will set precedents for everything from restrictions on NFT trademarks to the number of stripes on socks.Let’s take a look at some breakdowns of these lawsuits and how California’s new fur ban and last year’s Balenciaga advertising scandal will affect Kering’s bottom line. shiny podcast Interviews with fashion industry leaders, episodes of the week in review, shiny beauty podcast Interview from the beauty industry. – Danny Parisi, Senior Fashion Reporter
The fashion industry’s legal team is now undergoing training due to multiple ongoing lawsuits between brands. Adidas, for example, is suing Thom Browne over its designer’s use of stripes. Adidas was content to avoid lawsuits when Thom Browne added his fourth stripe to distinguish it from Adidas’ signature three stripes, but the Foraying into wear prompted Adidas to sue.
Hermès is suing artist Mason Rothschild over the sale of the Meta Birkin, an NFT based on the Hermès Birkin bag but which has nothing to do with Hermès.The trial version is set up as Start January 30While Hermes’ allegation is simple trademark infringement, Rothschild argues that NFTs have clear “parody” and “absurd” intent.
The lawsuit is reminiscent of a similar ongoing legal dispute between Nike and StockX. The former sued the latter for selling his NFTs containing images of Nike sneakers. His StockX argument at the time was that NFTs were merely symbolic ownership of the authentic sneakers stored in his StockX vault.
StockX and Rothschild take essentially opposite approaches to legal action faced by brands using images in NFTs. another entity. Rothschild’s argument, on the other hand, is that his NFTs are completely separate from the Birkin bags they painted, and that they should be considered works of art in their own right.
The results of both cases set precedents and shape the future of NFTs in fashion.
California is officially a fur-free state
The California law passed in 2019 has finally come into force. January 1, completely bans the sale of fur in the state. Notably, the bill would not prevent the sale of used fur, so resale and consignment platforms, especially for fur-loving luxury consumers, would benefit in California for the foreseeable future.
However, fur has not been very popular in fashion as a whole in recent years, and major luxury brands such as Moncler, Chanel and all Kering brands no longer sell fur. In the next 10 years, his new fur may become a staple in fashion.
Balenciaga scandal impacts Kering earnings
according to new report Bank HSBC said the Balenciaga scandal that rocked the company late last year is likely to have a tangible impact on Kering’s future earnings, which are due to be reported in February. It will be “worse,” says the report. Balenciaga accounts for around 10% of Kering’s turnover.
This hinders Kering’s growth mindset. The company hoped the end of 2022 and into 2023 would be a period of further growth. But Alessandro Michele’s departure from Gucci, the Balenciaga scandal and a slowdown in international luxury sales, especially in China, could set back Kering.