Coach Files Suit Against Target: Financial News - Yahoo! Finance
Coach Files Suit Against Target
Monday October 2, 2:36 pm ET
Coach Files Trademark Suit Against Target Over Fake Handbag
NEW YORK (AP) -- Luxury handbag and accessory maker Coach Inc. has sued Target Corp., alleging the Minneapolis, Minn., retailer is selling a counterfeit handbag that claims to be an authentic Coach product.The New York-based luxury goods company claims a counterfeit handbag that is an "exact replica of a genuine Coach handbag" and that bears a counterfeit of at least one Coach trademark was purchased from a Target store in Largo, Fla.
The lawsuit, filed late Friday in federal court in Manhattan, is seeking more than $1 million in damages.
Target's media relations department didn't immediately return a phone call seeking comment Monday.
Bloomberg.com: Worldwide
Target Accused by Coach of Selling Knockoff Handbags (Update3)
By Susan Decker
Oct. 2 (Bloomberg) -- Target Corp., the second-largest U.S. discount chain, was sued by luxury leather-goods maker Coach Inc. for allegedly selling knock-off copies of its handbags.
Target sold over $1 million of fake Coach bags it ``explicitly identifies as a genuine Coach product,'' according to a lawsuit filed Sept. 29 in Manhattan federal court.
The complaint for trademark infringement claims that Minneapolis-based Target is purposely misleading customers into believing they are buying Coach bags at discount prices. A bag bought at a Target store in Largo, Florida, ``is an exact replica'' of a Coach bag, the suit claimed.
Coach is seeking a court order barring Target from selling the counterfeit bags. The lawsuit also requests payment of any profits the discount retailer made on sales of the items, and the name of the person or company that's been supplying them.
Target has outpaced the growth of bigger rival Wal-Mart Stores Inc. by offering clothing from well-known designers such as Sophie Albou and Isaac Mizrahi. Messages left with Target's media relations office weren't returned.
Target shares rose 57 cents to $55.82 in New York Stock Exchange composite trading and are up 7.5 percent from a year ago. Coach shares fell 20 cents to $34.20 and are up 9.1 percent from this time last year.
The case is Coach Inc. v. Target Corp., 06cv7875, U.S. District Court for the Southern District of New York.
To contact the reporter on this story: Susan Decker in Washington at
[email protected] .