A New York-based coat maker claims Vince Camuto has left it in the cold as the fashion label cozies up with its new owner.
Outerwear manufacturer Fleet Street Ltd. has filed a complaint against Vince Camuto Group with the American Arbitration Association, alleging that the fashion label has moved to give its women’s coat business to Aldo, the Canadian shoe company that agreed to acquire Vince Camuto last month.
Alleging that Vince Camuto’s move is in breach of their contract, Fleet Street also names Aldo in the complaint filed last week, accusing it of muscling in on its business and of “tortious interference,” according to court papers obtained by The Post.
A wholesaler of women’s coats for such brands as Donatella and Kensie, Fleet Street says it had been in negotiations to ink a six-year contract with Vince Camuto worth $60 million before the Aldo deal and it’s seeking a declaratory judgement to get it renewed.
“They caused Fleet Street significant damage,” the company’s lawyer, Darren Oved told The Post. He declined to provide details about the harm to Fleet Street, but said layoffs could be a “logical” outcome.
Vince Camuto Group did not return calls for comment.
“The transaction between Aldo and Vince Camuto Group is not closed,” an Aldo spokeswoman said. “Therefore we cannot comment on this matter.”
Fleet Street and Vince Camuto, whose namesake designer passed away in 2015, had worked together for seven years, developing a line of women’s coats “from the ground up” according to the filing. Their current contract is set to expire at the end of this year and they were in the middle of negotiating a new one when Aldo made a bid to purchase Vince Camuto and “induced” Vince Camuto executives to withdraw from their dealings with Fleet Street, according to the filing.
Fleet Street claims that emails and other communications between them and Vince Camuto over their license renewal terms constitute a legal commitment, one that resulted in Fleet Street investing in developing a new collection.
“In addition to foregoing other licensing relationships, our team has held numerous internal meetings and discussions, incurred significant expense in making the appropriate financial commitments to vendors, suppliers, factories, agents, customers, and have expended substantial sums” Fleet Street President Manny Haber wrote in a letter to Vince Camuto’s chief financial officer, Jeffrey Howald, according to the…