Gucci Group N.V. (NYSE and Amsterdam: GUC) announced today that on Friday, March 10, 2000, it had received notice of a new lawsuit in Amsterdam from LVMH against Gucci and its strategic alliance partner, Pinault Printemps Redoute S.A.
Mr. Domenico De Sole, President and CEO of Gucci said: “This new lawsuit adds nothing to LVMH’s old claims that were dismissed by the Enterprise Chamber of the Amsterdam Court of Appeals; it merely continues their pattern of harassment. Indeed, the new case seeks no relief at all at the present time.
“This suit is nothing other than an attempt to detract from Gucci’s anticipated results, which are to be issued next Wednesday, March 22, 2000. “Gucci will continue to operate in the best interest of all of its shareholders.”
Gucci Group N.V. is one of the world’s leading designers, producers and distributors of high-quality, personal luxury goods. Products include leather goods, shoes, ties and scarves, ready-to-wear, gifts, jewellery, eyewear and perfume. The Company directly operates stores in major markets throughout the world and wholesales products through franchise stores, duty free boutiques and leading department and speciality stores.
The shares of Gucci Group N.V. are listed on the New York Stock Exchange and on the Amsterdam Stock Exchange.
Under the safe harbor provisions to the U.S. Private Securities Litigation Reform Act of 1995, the Company cautions investors that any forward-looking statements of projections made by the Company, including those made in this document, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Company’s operations are discussed in the Company’s Annual Report on Form 20-F for 1998, as amended, filed with the U.S.
Securities and Exchange Commission.
