Shanghai (China), 23 Feb. US clothing and accessories maker Paul Frank has revealed it has not renewed its contract with its Chinese partner, whom it accuses of repeatedly breaching the agreement under which it operated the brand on the Asian giant market.
In a statement published this week on his official account on the social network WeChat, Paul Frank claims to have broken his agreement with Grand Union International Trading, a local firm which in 2015 paid “tens of millions of dollars” for the rights in September last. year of operating some of its brands in China, according to business news portal Yicai.
The American company has accused its former partner of “abusing” its intellectual property rights or falsifying official documents, as well as manufacturing and selling unauthorized products, for which it announced that it would take legal action judicial.
Paul Frank – known worldwide for his logo, the iconic monkey Julius – said in the statement that he “will increase his investment in the Chinese market” and that he “will do everything possible to repair the damage caused to the mark by the chaotic administration”. ” of the Great Union. EFE
thing/aa/gcf