Did you know that the FTC is cracking down on influencers on YouTube, Instagram, and TikTok?
When it comes to influencer marketing, the FTC’s rules state that influencers must reveal their relationships with brands within their posts. Followers need to understand whether what they’re seeing is an ad or an organic post by the influencer.
In March of last year, the FTC sent warnings to 10 influencers of the skincare and tea company “Teami” — including Cardi B, actress Adrienne Bailon and singer Jordin Sparks — alleging that their paid posts for Teami were “deceptive” for not disclosing paid promotions for endorsing a product. Andrew Smith, who heads consumer protection enforcement for the FTC, indicated future action against individual influencers is a possibility, especially if such important advertisers are promoting “unsubstantiated efficacy claims”. Teami separately agreed to pay $1 million in settlement.
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The University of Chicago Fashion & Beauty Law Society (FABLS) is an academic cohort at the law school for law students interested in the legal and business aspects of the fashion and beauty industries.
11/16/2020
Join us TOMORROW, Tues 11/17 at lunch for a conversation with alumna Alexandra Bratsafolis (‘07) head of of Global Public Affairs at the Estée Lauder Companies Inc.
09/08/2020
Valentino Sues Manhattan Landlord to Cancel Rent Obligations Amidst Shutdown Orders, Citing the Decline in Prestige of the Retail Space Has "Frustrated" the Purpose of their Lease
Following the New York state order to shutdown nonessential business in effort to contain the spread of the coronavirus pandemic back in March, Valentino SpA filed legal action against their Manhattan landlord, joining myriad commercial lease tenants also looking to escape their expensive lease obligations.
The Valentino Fifth Avenue boutique sits on prime real estate, a section normally known for its high foot traffic of tourists and luxury shoppers. Rent averages $2,513 per square foot a month. Valentino signed a 15-year lease for the four-story complex in 2013.
Valentino argues that the termination of its four-story Fifth Avenue store is warranted because it was "impossible" to do business at this location in wake of the shutdown order, and that event "frustrated" the very purpose of the lease, according to the complaint.
The frustration of purpose and impossibility doctrine are common law theories that, absent a force majeure clause, excuse nonperformance. The suit cited a provision in the lease that Valentino was to use the retail space with a specific purpose, in operation that is "consistent with the luxury, prestigious, high-quality reputation of the immediate Fifth Avenue neighborhood.”
Not only is Valentino arguing that the lease obligations should be terminated because the government order has rendered operations impossible, it is also arguing that the location is no longer a luxury destination, which has frustrated the lease’s very purpose.
Will they be able to back out of their lease obligations?
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