Shanghai (China), 23 Feb. The American clothing and accessories manufacturer Paul Frank revealed that he has not renewed his contract with his Chinese partner, whom he accused of repeatedly violating the agreement by which he exploited the brand in the Asian giant market.
In a statement published this week on his official account on the WeChat social network, Paul Frank assures that he broke his agreement with Grand Union International Trading, a local firm that in 2015 paid “tens of millions of dollars” for the rights in September last year. of exploitation of some of its brands in China, according to the Yicai economic news portal.
The American company 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 will take legal action.
Paul Frank – known worldwide for his logo, the iconic Julius monkey – 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 to the brand caused by the chaotic administration” of Grand Union . EFE
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