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."
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
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“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)