Back in 1986, before many of you were even born, Burlington Coat Factory sold a bunch of fake Fendi handbags. Now, 24 years later, the case has finally been settled. Burlington must pay Fendi over $10 million in damages.
And, kind of surprisingly, the discount retailer seems to have the cash to fork over to Fendi, one of the world’s most powerful luxury brands. Annual sales, as of 2004, were a whopping $2.8 billion. Even if that number has halved since then, it’s still a much bigger business than we ever imagined.
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