On one hand, Shanghai Zhongfu Import & Export Co., Ltd. (referred to as "Shanghai Zhongfu") was negotiating the full transfer of the Pierre Cardin trademark. On the other hand, it also transferred some leather goods and related trademarks to a Wenzhou-based business group. This move sparked strong dissatisfaction among Shanghai's service providers.
According to reports, Shanghai Public Service has publicly criticized Mr. Cardin, a globally renowned figure and business magnate, for lacking basic business ethics. Yao Yaoming, head of the Shanghai Legal Service Department, told CBN reporters that they had already sent a formal letter to Pierre Cardin. If the acquisition remains unclear, they may have no choice but to take more concrete actions.
The term “One Woman Two Married†has become a hot topic in this dispute. In August, Chen Liang, chairman of Shanghai Zhongfu, expressed his excitement after months of negotiations with Pierre Cardin. He announced that a framework agreement on the overall acquisition had been signed between Shanghai Zhongfu and Pierre Cardin, with both parties agreeing on the main terms.
By the end of August, Shanghai Zhongfu officially announced that the acquisition had received approval from the Shanghai Municipal Commission of Commerce and the National Development and Reform Commission. This effectively positioned Shanghai Zhongfu as the sole candidate for acquiring the Pierre Cardin brand.
However, things quickly took a turn for the worse. In mid-September, Shanghai Zhongfu learned that Pierre Cardin had transferred part of the trademarks, including those for leather goods, to another domestic company. According to sources, Pierre Cardin had signed a trademark transfer agreement with the Cardan Road Group, controlled by Sun Xiaofei.
According to the Shanghai service, the total value of the trademark transfer was 37 million euros. What shocked them even more was that Pierre Cardin had already received 33.3 million euros by September, including 6 million euros as early as May.
“This clearly violates the overall purchase agreement between Shanghai Zhongfu and Mr. Cardin,†Chen Liang told CBN. “We cannot accept this. If we go back to the beginning, we must acquire Pierre Cardin together with others. It is still unacceptable.â€
Surprisingly, Sun Xiaofei and his group also took a firm stance. “We have signed an agreement with Mr. Cardin and have already paid part of the money. It can't be changed,†he said. If the outcome isn’t favorable, Sun Xiaofei warned that they would file a lawsuit against Pierre Cardin and take legal action to reclaim the trademark rights.
This situation seems to go beyond a simple legal battle. Shanghai Zhongfu emphasized that any resolution must be handled through legal channels. “Shanghai Zhongfu is the only buyer approved by the National Development and Reform Commission. Other companies’ transactions with Mr. Pierre Cardin are not recognized by Chinese authorities,†said an official from the company.
“Should this continue, Mr. Cardin is suspected of using the domestic companies' affection for the Pierre Cardin brand to stir up competition and seek improper benefits,†Shanghai Zhongfu stated. If no response is received, they will consider taking legal action to hold Mr. Cardin accountable and cancel unfair transactions.
Both sides are now locked in a fierce struggle. Sun Xiaofei, owner of the Cardan Road Group and holder of the Italian Dupont brand, has partnered with three other Wenzhou businessmen. According to insiders, these four individuals represent some of the most successful entrepreneurs from Wenzhou who have made their mark in Guangdong. Their financial strength should not be underestimated.
Shanghai Zhongfu’s parent company is China Apparel (000902.SZ), which is part of the central enterprise China Hengtian Group. The company’s financial power is significant and should not be overlooked.
Behind the scenes, there is also a deep financial struggle. It is reported that Sun Xiaofei and Chen Liang met at a promotional event for Pierre Cardin in April. At that time, several groups, including those from Hong Kong, Taiwan, and Sun Xiaofei, were interested in acquiring the brand. A bid came from a group in Taiwan, and each group brought nearly ten people, making the scene quite crowded. At that time, Chen Liang did not know much about Sun Xiaofei.
According to informed sources, Sun Xiaofei’s decision to approach Mr. Pierre Cardin was linked to his proposal to revive the brand. Sun Xiaofei and his team conducted a detailed investigation, and their report deeply impressed Mr. Pierre Cardin.
What was awkward, however, was that Sun Xiaofei had previously claimed he would also acquire the entire Pierre Cardin brand. But two months later, the plan shifted to acquiring only leather goods.
Compared to Sun Xiaofei, Chen Liang has the support of over 20 domestic agents for Pierre Cardin. Industry insiders note that Shanghai Zhongfu has worked closely with these agents for many years, giving them a stronger sales network than the Wenzhou group. The continued support from top-tier domestic agents also plays a crucial role in the ongoing dispute.
Breast Support,Breast Shaper,Breast Shaper Bras
Foshan Nanhai Boxin Clothing Co., Ltd , https://www.boxinfushi.com