Levi Stock Rises as Suit Settled Against Brunello Cucinelli

Levi Strauss stock surged after the company settled its lawsuit against Brunello Cucinelli, in which it accused the Italian luxury brand of breaching its trademarked pocket tab.

During Tuesday’s closed session, Levi’s stock steadily increased by 0.38% to $22.25 per share. This positive trend continued after-hours trading, with a surge of 0.67% to $22.40 apiece, indicating a solid market position despite the ongoing legal proceedings.

In a filed complaint, the San Francisco-based company has provided 14 images of Brunello Cucinelli, including almost identical copies of its tab, which the denim retailer and other clothing trademarked since 1938.

However, Levi acknowledged the settlement after the firm notified a federal judge in Oakland on Tuesday that it had dismissed the lawsuit with Brunello Cucinelli.

The firm warned that the Italian luxury brand might cause potential consumer confusion, predicting a sales decline and irreparable harm to reputation. It stressed the critical need for immediate action to mitigate these risks and preserve its market standing.

However, Brunello Cucinelli has not yet commented on the matter.

Meanwhile, in recent years, Levi has charged several cases to safeguard its tabs, including lawsuits against Kering’s Yves Saint Laurent and LVMH’s Kenzo. Both of those suits ended in settlements.

GXO to Operate Levi’s Distribution Center in Germany

GXO Logistics has signed a 20-year deal to manage Levi’s operation at Dorsten Distribution Center (DDC) in Germany.

The facility is set to launch in early June this year and will dispense apparel and accessories across wholesale, retail, and e-commerce methods.

Moreover, the partnership will mark GXO managing all logistics services for the denim retail company at this fully automated site.

Meanwhile, the DDC facility aids sustainable warehousing practices and features certifications like Leadership in Energy and Environmental Design and WELL Health-Safety.

According to reports, the Dorsten facility will start at a capacity of 33 million units, reach 55 million units by 2026, and create 650 job opportunities.