Nike settles trademark case against BAPE over shoe designs [Reuters]
Nike, Inc. (NKE)
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Source: Reuters
footwear giant's famous sneaker designs, according to a filing in New York federal court on Monday. The said that BAPE and Beaverton, Oregon-based Nike signed an agreement that would end their dispute. Nike said in a statement that BAPE had agreed to discontinue some of its shoes and redesign others as part of the settlement. Representatives for BAPE did not immediately respond to requests for comment and more information about the settlement. BAPE, founded by designer Tomoaki Nagao, is owned by Hong Kong-based I.T. Ltd. BAPE began selling products in the United States in the mid-2000s, according to the lawsuit Nike claimed that BAPE's footwear business "revolves around copying Nike's iconic designs," and that some of its shoes are "near verbatim" copies of Nike's Air Force 1, Air Jordan 1, and Dunk sneakers. Nike accused BAPE of trademark infringement and said its designs would cause consumer confusion. BAPE denied the allegations. U.S. District Judge Paul Gardephe refuse
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