Molsby & Bordner LLP issued the following announcement on Oct. 24.
Saks Fifth Avenue has been around for a long time. Most luxury shoppers in California are familiar with the high-end retailer, whose flagship store is located in the Northeastern part of the country. The business litigation involves a claim made by Cartier, another high-end company known for its jewelry and watches.
Cartier reportedly got upset when Saks underwent a renovation project. In its claim, Cartier states that not only were its luxurious jewels and watches relocated to a section of the newly designed store that doesn't get much traffic, the products were also covered in dust during construction. Cartier requested that Saks relocate its line to a prominent location in the new store, as having a front-and-center position is more typical when stores stock their luxury items.
The problem is that rather than comply with the request, Saks reportedly severed its contract with Cartier. It was a five-year deal that still had approximately three years left. Following the move by Saks, Cartier filed a breach of contract lawsuit in New York State Supreme Court. Contract litigation is often quite complex; the wording of a contract can have a lot of impact on the court's decision.
Cartier lists damages at $40 million in the business litigation case against Saks.
Original source can be found here.