A full year after fashion retailer Fairweather filed suit against Target over the right to use the Target name in Canada, the two stores have announced an agreement that seemingly settles the matter.
Fairweather, along with subsidiaries International Clothiers and Les Ailes de la Mode, had previously owned the rights to the name to use with its Target Apparel brand. It had launched a suit in federal court seeking $250 million in damages.
A statement from the American-owned Target issued Wednesday morning said Fairweather and its subsidiaries “have agreed to cease use of the Target mark by Jan. 31, 2013.
“This agreement will eliminate any potential confusion among Canadian consumers regarding Target Corporation’s branding elements, store experience and merchandise assortments.”
Target is planning on opening its first Canadian locations in 2013 following a $1.83 billion deal that sees the U.S. store taking over 220 Zellers locations.
Terms of the Target-Fairweather deal were not disclosed.
