Under the 10-year agreement Tilray signed with ABG last January, Tilray first contributed $100 million to brand development activities to access ABG`s portfolio of brands for “the development, marketing and distribution of cannabis products for consumers around the world.” Tilray reported disappointing results for the fourth quarter in March, when the company reported impairment losses of $US 112.1 million related to the ABG deal. With the long-term licensing agreement, Jones New York is part of Global Brands` extensive portfolio of fashion and lifestyle brands. As part of the agreement, Global Brands will design, produce and distribute products in several categories, including women`s apparel, men`s apparel, children`s apparel, accessories and footwear. ABG is developing an omni-channel marketing strategy to activate the brand with new creative, messaging and key initiatives across all media channels, including social, digital, print, out-of-home, in-store and PR. Our experience brings a commercial and pragmatic approach to outsourcing contracts. What about shoes and cannabidiol (CBD)? Last week, Designer signed Shoe Warehouse (DSW) – Get Report better known by its initials DSW signed an agreement with Green Growth Brands (SIC) – Get Report on the sale of its Seventh Sense brand, which offers CBD-coated products such as muscle balms, body lotions, body detergents and foot creams. Tilray Inc. Get Report today signed a long-term revenue equity agreement for the marketing and distribution of cannabis products with authentic Brands Group (ABG), which includes shoe brands Nine West, Airwalk, Frye and Tretorn Sneakers. The complaint alleges that Tilray executives made false and misleading statements about the ABG agreement and exaggerated its benefits in 2019, when the agreement was effectively below average. “We are very pleased with the partnership with ABG, a global leader known for managing and marketing its own portfolio of iconic brands,” said Brendan Kennedy, President and CEO of Tilray. “As we work to strengthen Tilray`s global presence, this agreement leverages our complementary strengths and will benefit our shareholders if we reach new consumers in entertainment, fashion, beauty, home, health and wellness.” The lawsuit, which targets Tilray CEO Brandon Kennedy, former CFO Mark Castaneda and other members of Tilray`s board of directors, accuses the defendants of breaching their fiduciary duties under the long-term equity agreement between Tilray and Authentic Brands Group (ABG). Authentic Brands Group, LLC (ABG) and Global Brands Group Holding Limited jointly announced the signing of a long-term licensing agreement for Jones New York. The lawsuit alleges that the defendants — including Tilray CEO Brandon Kennedy, former CFO Mark Castaneda and several board members — breached their fiduciary duties with respect to a revenue equity agreement between Tilray and the Authentic Brands Group (ABG) lifestyle brand portfolio and conducted insider trading under that deal.
Our lawyers have been advising for several years on subcontracting contracts and transactions and providing specialist advice in the disciplines necessary to ensure that clients` objectives, whether as outsourced service providers or as a client, are achieved through a practical agreement. . . .