Arm Stock Drops Despite Strong AI Chip Demand and Earnings Beat 
BMW Keeps 2026 Outlook Despite 25% Profit Drop Amid Tariff Pressure 
Nike Tariff Refund Lawsuit Sparks Consumer Backlash Over Price Increases 
European Stocks Fall as US-Iran Conflict Rekindles Energy Supply Fears 
Sony Forecasts Lower 2027 Profit Despite Strong Music and Sensor Growth 
Hua Hong Semiconductor Stock Surges to Multi-Year High Amid AI Boom 
Asian Currencies Slip as US Dollar Gains on Rising Iran Tensions and Awaited Jobs Data 
Infineon Raises 2026 Outlook as AI Data Center Chip Demand Surges 
US Trade Court Blocks Trump’s 10% Global Tariffs 
Continental AG Shares Jump After Q1 Profit Beats Expectations 
Dollar Struggles to Rally Despite Strong US Data as Fed Hike Expectations Remain Limited 
UOB Q1 Profit Meets Expectations as Loan Growth Offsets Lower Interest Rates 
OCBC Q1 Profit Rises 5% on Strong Wealth Management and Non-Interest Income 
Broadcom Eyes $35 Billion AI Chip Financing Deal With Apollo and Blackstone 
Novo Nordisk Raises 2026 Outlook on Strong Wegovy Demand 
Morgan Stanley Bets on Optical Component Stocks in Greater China Tech Sector 
TikTok Nears $400 Million Settlement With Trump Administration Over Child Privacy Lawsuit 
Nike and Hermès have filed a case against retailers for the use of their images without permission. The companies have brought online sneaker reseller StockX and Mason Rothschild, respectively, to the court for trademark infringement.
Nike said that its trademark had been used by StockX by selling images of its sneakers in the form of non-fungible tokens or NFTs. As for Hermès, it sued Mason Rothschild last week as he created the MetaBirkins NFT collection, which features the images of the luxury brand’s world-famous Birkin bags.
In its complaint that was filed in a federal court in New York, the Paris, France-headquartered luxury goods company, said that Rothschild is “A digital speculator who is seeking to get rich quick by appropriating the brand MetaBirkins for use in creating, marketing, selling, and facilitating the exchange of digital assets known as non-fungible tokens.”
As per CoinDesk, the OpenSea NFT marketplace has pulled out the Metabirkin NFTs after a cease-and-desist letter has been served by Hermès to Rothschild. On the other hand, Nike’s lawsuit has no result yet since it just made the filing in court not long ago.
Nike went to the court on Friday, Feb. 4, and it accused StockX of minting and selling NFTs featuring the brand’s trademarked material. These have not been authorized or approved by the company; thus, the footwear firm would like to stop further sales. It is also asking for monetary damages compensation, but the amount has not been mentioned.
Vogue Business reported that Nike stated in the suit that StockX “has chosen to compete in the NFT market not by taking the time to develop its own intellectual property rights, but rather by blatantly freeriding, almost exclusively, on the back of Nike’s famous trademarks and associated goodwill.”
Meanwhile, the representative of the company did not respond to the request for comment. Nike or its lawyers were not able to give statements regarding the lawsuit as well, according to CNBC.
However, Nike said that StockX started selling NFTs of its sneakers last month, and it also told buyers that in the future, they would be able to redeem the tokens for the physical versions of the sneakers. In the complaint, Nike said that StockX sold more than 500 Nike-branded NFTs.
