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Business

Roundup: Business & Legal

The parentco of Coach, Kate Spade New York, and Stuart Weitzman will re-brand itself as Tapestry effective Oct. 31, 2017. CEO Victor Luis told WWE that the shift reimagines Coach as a “true house of emotional, desirable brands,” that will “extend into new categories and markets” within “the very attractive and growing $80 billion global market for premium handbag and accessories, footwear and outerwear.”

WME | IMG is rebranding as Endeavor, a new holding company that will take on the full portfolio of owned and operated brands. The new entity will be led by Ariel Emanuel as CEO and Patrick Whitesell as Executive Chairman. The Endeavor portfolio of brands and companies now includes:

  • WME, a global entertainment agency representing clients across motion picture, television, sports, music, books, digital and theater;
  • IMG, a global leader in sports, events, media and fashion;
  • UFC, a professional MMA organization;
  • Droga5, the Cannes Lions Independent Agency of the Year;
  • Professional Bull Riders;
  • The Miss Universe Organization;
  • Frieze, an arts and media company;
  • Dixon Talent, a comedic management house;
  • The Wall Group, a consulting agency;
  • Euroleague Basketball;
  • eLeague, an eSports league created in conjunction with Turner; and
  • A subsidiary in China focused on advancing the company’s growth in the region.

Muhammad Ali Enterprises filed suit against Fox Broadcasting seeking $30 million for an unauthorized representation of Ali in a three-minute promotional pre-game video before the start of Super Bowl LI earlier this year. The Authentic Brands Group unit is being represented by Schiff Hardin; the law firm won a similar case with a jury verdict of $8.9 million for the unauthorized use of Michael Jordan’s identity in a commemorative issue of Sports Illustrated. It is also prosecuting a case against Samsung for the unauthorized use of the identity of the former soccer player Pele in an ad.

The stock of G-III Apparel Group, owner of the Donna Karan and DKNY labels, fell following designer Donna Karan’s remarks over the Harvey Weinstein scandal. A Care2 petition also is demanding Nordstrom drop designer Donna Karan’s products—a spokeswoman speaking to WWD noted that even though she was previously unaware of Karan’s lack of involvement in the company, the real issue is “about them being associated with her brand when she’s made these comments.”

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