Rusell Simmons sues Hong Kong Distributor for $55 Million

11 Sep

Hip-Hop mogul Russell Simmons the man who co-founded Def Jam and Phat Farm clothing has filed a $55 million breach of contract lawsuit over his “American Classics By Russell Simmons” and “Russell Simmons Argyleculture” clothing brands.

Simmons claims Hong Kong-based apparel licensing company Li & Fung, USA was supposed to help market and distribute his flagship Argyleculture brand. A brand which he created to fufil the aspirations of the Urban Graduate, who has grown out of the urban fashion trend. (The black man who the mainstream media gloss over like he doesn`t exist)

The mogul claims that Li & Fung USA “expressed a false enthusiasm” for his flagship brand in order to induce the mogul into licensing them his mass market brand, which is American Classics by Russell Simmons.

Simmons claims that he waited two years hill Li & Fung USA failed to execute and offered no development or support for either of the brands, resulting in the legal maneuver.

Russell Simmons is the orignal music mogul before there was Jay-Z, and the P-Diddys you had Russell. Almost 20 years ago he pioneered a space that enabled an entire generation of minority designers and entrepreneurs to change the landscape of fashion, with Phat Farm. Now he is looking to do the same with Urban Graduate.

“I have taken this action to protect my partnerships with retailers and recover millions in damages on behalf of my brands and to protect my name and reputation in the industry,” Simmons said. “Over the last 30 years and with the help of numerous partners, I’ve built successful groundbreaking businesses in music, apparel, television, film, jewelry, games and multiple charities and causes. Not once have I ever had to file a lawsuit. For the first time in my career I found myself with a partner in Li & Fung, which had executives who willfully and repeatedly put the integrity of my brands at risk.” he claimed.

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