Gucci and Guess have finally settled a nine-year legal battle over the intellectual property of their interlocking G logos.
The dispute started back in 2009 when the luxury fashion house accused Guess of trademark infringement and has since escalated with Gucci filing several more lawsuits.
In 2012 Gucci received $5 million (£3.56 million) in compensation from Guess in the US, however this was nowhere near the $221 million (£157 million) it originally demanded.
Gucci subsequently filed for law suits in Italy, France, Australia, China with mixed success.
Judges in Milan and Paris ruled in favour of Guess, but Gucci won favour in Australia and China.
The two warring brands have now signed a joint agreement to scrap all pending legal battles across the globe.
“The agreement is an important step for both companies in recognising the significance of protecting their respective intellectual property portfolios and design creativity,” the pair said in a joint statement, but failed to elaborate on the details of the deal.
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