A nine-year battle over the letter G has finally come to an end.
Fashion brands Gucci and Guess jointly announced today that they have signed an agreement that will end all outstanding legal battles between the two companies.
The terms of the agreement were not disclosed, but in a joint statement, Gucci and Guess said: “The agreement is an important step for both companies in recognising the significance of protecting their respective intellectual property portfolios and design creativity.”
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The companies have been fighting for ownership of a logo featuring two interlocking letter Gs.
A series of disputes started in 2009, when Gucci accused Guess of counterfeiting and trademark infringement, saying a similar design on a pair of shoes had resulted in a loss of profit.
Gucci then filed several other lawsuits around the world, with mixed results.
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The companies said today’s decision ends all pending IP litigations and trademark office matters worldwide.
Gucci has become a very valuable brand to its owner Kering since creative director Alessandro Michele made his mark at the fashion house. His eclectic chic looks have become a must-have, helping to push Kering’s revenue above €15bn (£13bn).
Meanwhile Guess reported revenues of $2.4bn (£1.7bn) in its most recent annual results, an increase of eight per cent.
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