Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Nike Inc. filed a lawsuit against Lululemon Athletica Inc. on Monday, Jan. 30, over alleged patent infringement of its shoe designs. The case was filed at the U.S. federal court in Manhattan, New York.
In its complaint, the Oregon-headquartered footwear and sports apparel manufacturer said it has been harmed economically and incurred irreparable damage after the Canadian athletic apparel retailer sold its Chargefeel Low, Chargefeel Mid, Blissfeel, and Strongfeel sneakers.
According to CNBC, Nike is seeking unspecified damages for the patent infringement case against Lululemon. The company said it has filed for three patent cases and they are focused on its textile elements in the shoe designs.
Some of the things mentioned include the webbed parts in the footwear, the knitted elements, and the tubular structures. It was added that one of Nike’s claims also touched on the sneaker’s performance.
This is not the first time that Nike sued Lululemon. In January 2022, it brought the Canadian retailer to court for allegedly infringing on six of its patents related to its interactive home Mirror fitness device and mobile applications. Nike wants triple damage compensations for these cases.
Nike said that it already filed a patent for the device that determines calories, running speed, and distance travelled in 1983. The Mirror which is connected to an app also guides users through exercises and cardio classes.
In any case, Nike’s latest lawsuit against Lululemon is about the new sneakers that were released by the latter in March and July. The release of the shoes marked Lululemon’s venture into the sneaker market but Nike said these products have infringed its design patents and caused huge damage to the company.
Lululemon could not respond to requests for comments regarding this matter. But in the previous lawsuits that were filed by Nike, it said that the “patents in question are overly broad and invalid. We are confident in our position and look forward to defending it in court.”
