All That Jaz
Department-store staple Joseph Abboud has been spending some time in court lately, and not for the usual industry shenanigans. Abboud’s misstep this time was, of all things, designing clothes.
Back in 2000, Abboud netted a very respectable $65.5 million by selling the rights to his name to JA Apparel. But it seems his heart, and possibly also his name, was not entirely in the deal. In April of ’07 he made a few innocent-looking “loans” to Alden Shirt Company, only to emerge, after a few more intermediaries, with a new company, Jaz, completely separate from JA Apparel.
More on the unfortunate saga»