Tapestry Drops Lawsuit Against Gap Over 'Coach' Trademark
Tapestry, the parent company of Coach, has withdrawn its lawsuit against Gap Inc., ending a dispute over trademark infringement. The case, filed in April 2024, alleged substantial damages due to Old Navy's use of the 'coach' trademark.
Tapestry initiated the lawsuit on April 3, 2024, in the U.S. District Court for the Central District of California. The reason behind the lawsuit was likely a business gap or intellectual property matter, as it involved the use of a trademarked term by Old Navy, a subsidiary of Gap Inc. The case was dismissed without prejudice, allowing Tapestry to refile if necessary.
In recent financial news, Tapestry reported a 2% decrease in net sales for the most recent period, totaling $1.48 billion. This dip may have been a factor in the company's decision to withdraw the lawsuit, as it focuses on its core business operations.
The lawsuit between Tapestry and Gap Inc. has been dismissed, with Tapestry retaining the option to refile. Meanwhile, Tapestry's recent financial performance may influence its future legal strategies, as the company concentrates on its business operations.
Read also:
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
- Conflict between Ben & Jerry's co-founder and Unilever over Gaza issues leads to resignation of co-founder
- Two farmers in Zambia take legal action against two firms with Chinese connections, alleging an ecological disaster caused by their operations.
