Appeals Court Vindicates Licensee Fashion Footwear LLC in Battle Against Iconix
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NEW YORK, May 16, 2025 ~ In a groundbreaking decision that could have major implications for the fashion world, a New York Appellate Court has ruled that US Pony Holdings, an affiliate of Iconix Brand Group, wrongfully terminated its exclusive footwear license with Fashion Footwear LLC. The court unanimously held that Pony's attempt to end the agreement was invalid and rejected their argument that Fashion Footwear's damages should be limited to the previous year's royalties.

The Appellate Court's ruling upholds the decision made by the lower court, which found that Pony had no contractual right to terminate the license. This was due to the fact that neither Pony nor its affiliates had entered into a binding agreement to sell a majority of Iconix's shares, which was a condition required for any termination rights.

Fashion Footwear's majority shareholder, Harry Adjmi, expressed his satisfaction with the court's decision and praised the legal team from Oved & Oved LLP for their hard work and dedication. He stated, "This victory is a testament to the excellence and perseverance of our legal team. Their tireless commitment and unwavering belief in our cause made this spectacular outcome possible."

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In addition to upholding Fashion Footwear's rights as a licensee, the Appellate Court also reversed the lower court's decision allowing Pony to escape liability by claiming that Fashion Footwear did not immediately challenge their unlawful termination. The court stated that Pony cannot deceive Fashion Footwear and then try to benefit from their own deception.

Fashion Footwear's counsel from Oved & Oved LLP, Terrence Oved and Darren Oved, commended their client for their determination in pursuing justice. They vowed to continue fighting until Pony is held accountable for the millions of dollars in damages and attorneys' fees they caused Fashion Footwear to incur.

This ruling is not only a significant win for Fashion Footwear but also serves as a powerful reminder to dominant licensors like Iconix that they cannot disregard their contractual obligations or the rights of their licensee-partners. It highlights the importance of upholding fair and just practices in the fashion industry and protecting the rights of all parties involved.
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