FORSCHNER ANNOUNCES TRADEMARK SETTLEMENT
FORSCHNER ANNOUNCES TRADEMARK SETTLEMENT SHELTON, Conn., June 30 /PRNewswire/ -- The Forschner Group, Inc.
(NASDAQ: FSNR) today announced the settlement of its litigation with Precise Imports Corporation, a privately held company, involving the use of the trademark "Swiss Army."
Under the settlement Precise agrees that Forschner will be the exclusive marketer of timepieces, sunglasses and compasses under the Swiss Army trademark. Precise also acknowledges Forschner's exclusive ownership of the Swiss Army trademark for non-knife products. Precise was granted a perpetual royalty-free license from Forschner permitting both firms to use the trademark on products other than watches, sunglasses and compasses. The settlement does not affect the sale by Forschner of Victorinox Original Swiss Army Knives or the sale by Precise of Wenger Genuine Swiss Army Knives. Forschner, for many years the exclusive United States marketer of Victorinox Original Swiss Army Knives, recently added Canada to its exclusive territory. In 1989 Forschner introduced nationally a line of high quality watches under the Swiss Army brand. The company currently sells several models, ranging from a chronograph retailing at $695 to the now familiar Original Swiss Army Brand Watch priced at $115, to sporting goods, traditional watch and other retailers in the United States and abroad. Forschner's Swiss Army brand products also include sunglasses and compasses and the company is considering other Swiss-made products under the "Swiss Army" trademark. -0- 6/30/92 /CONTACT: Donald R. Dwight of Dwight Partners, Inc., 203-661-8480, for The Forschner Group, Inc./ (FSNR) CO: Forschner Group, Inc.; Precise Imports Corporation ST: Connecticut IN: HOU SU:
KD-LD -- NY007 -- 5000 06/30/92 08:01 EDT
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|Date:||Jun 30, 1992|
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