NEW YORK — Saks Inc. is shedding more light on its chargeback policy, such as who was overcharged and by how much.
However, it still hasn't shown how the excess was calculated. Getting to the heart of the matter is something attorney Donald Kreindler of Phillips Nizer will have to grapple with over the next several months as he works on behalf of his client, International Design Concepts, to determine how much is owed by Saks Fifth Avenue in connection with the issue of chargebacks.
IDC sued Saks in May in a Manhattan federal court, alleging breach of contract and fraud in connection with chargeback and vendor allowance practices at the retailer. IDC is the assignee of assets of Apparel Group International, the licensee of Oscar de la Renta for the "Oscar by Oscar de la Renta" trademarks, which were used for a now-defunct women's sportswear bridge collection previously sold at SFA.
According to Kreindler, he was informed by Saks' attorney that the retailer had overcharged his client in "excess of $1.3 million."
Both Michael Gordon of Kirkpatrick & Lockhart Nicholson Graham, the lawyer for Saks, and a Saks spokeswoman declined comment on Monday.
The disclosure of the amount was necessitated by a court order following a conference between the parties that directed Saks reveal whether Kreindler's client was on the list of overcharged vendors and, if so, to what amount.
"So far, we have been given only the number that Saks admits. We have requested a calculation and all of the documentation to support it," Kreindler said.
IDC also said in its lawsuit that AGI is "no longer in operation," alleging it was "forced out of business by the actions of the Saks defendants." IDC filed an amended complaint in June that, among other things, charged that many of the deductions imposed by Saks Inc. and SFA "bore no reasonable relationship to any actual damage that occurred or could reasonably have been anticipated."
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)