Michael Kors Suing Costco
Michael Kors Holdings Ltd. is taking Costco Wholesale Corp. to court. The brand filed a lawsuit against the wholesale retailer, alleging Costco falsely advertised that it sold Kors handbags. The suit specifically points to e-mails sent by Costco on April 16 of this year.
Kors called them “bait-and-switch” e-mails, because they advertised a selection of “designer handbags starting at $99.99 delivered.” The image next to the text showed three handbags, including a monogrammed Kors bag. Several other photos of Kors bags were also featured in the ad, which prominently displayed Kors’ signature “MK” circular gold tag. The company is also seeking the destruction of any infringing goods and advertisements, as well as the reimbursement of attorneys’ fees.
Katy Perry to Launch New Fragrance
Katy Perry’s new scent with partner Coty Inc. is due out in August. Its name is Killer Queen, referencing the classic rock song by Freddie Mercury. Industry sources estimate that the company will achieve a first-year profit of $80 million globally in retail sales.
“It’s for someone sophisticated, who wants a little edge and can wear it all day, and still wants that sexiness. It took us something like 30 or 35 tries to get it right,” said Perry in a statement. Top notes include wild berry, dark plum, and bergamot. The heart of the fragrance features red velvet flower, natural jasmine, and rainbow plumeria, and the base notes are cashmeran, natural patchouli, and liquid praline. The fragrance comes in a jewel-shaped bottle and advertising will feature Perry and the tag line “own the throne.”
Tyra Banks Invests in Shopping Start-Up
The businesswoman and supermodel has joined forces with actor Ashton Kutcher as an investor in the shopping start-up TheHunt.com. Tyra Banks made the deal through Fierce Capital, the investment part of her company, The Tyra Banks Co. The Hunt is the first fashion investment for Banks. The start-up combines fashion and social media, making it easier for shoppers to find items featured in photos on sites such as Instagram, Pinterest, Tumblr, and Facebook. The Hunt has created a community that encourages users who recognize items tell others where they can buy the product. The site, which launched in January, was cofounded by tech entrepreneurs Tim Weingarten and Simon Peck.
Source: WWD & NY Post