NEW YORK — Brand Science LLC, an affiliate of Accessory Network Group, that does business as LeSportsac, filed a lawsuit in the Supreme Court against Timothy Schifter and his new accessories company Schifter & Partners charging breach of contract.
The lawsuit alleged that Schifter violated the terms of a letter of agreement for a six-month nonsolicitation restriction following his departure from LeSportsac. Schifter sold LeSportsac, the brand his family founded, to Brand Science and Accessory Network Group in November 2005, reportedly for more than $100 million. Schifter & Partners, in which Gwen Stefani is a co-shareholder, launched April 10, as reported by WWD.
According to the court documents, Brand Science “paid Schifter over $1.4 million and the consideration for that payment included Shifter’s agreement to refrain from any indirect or direct solicitation of any present, former or prospective customer of LSS [LeSportsac] brand products for six months after the termination of his employment.”
The complaint alleged that Schifter violated the agreement and began soliciting customers, such as Macy’s West “almost immediately” after the contract was signed. Brand Science asked the court for a temporary restraining order against Schifter & Partners. It also asked for Schifter to return the money paid to him when the non-solicitation agreement was signed.
For complete coverage, see tomorrow’s WWD.