Saks Fifth Avenue has charged Cartier for $55 million, escalating a fight over whether the department store can move the fine jewellery brand's boutique out of a coveted ground-floor spot as part of a $250-million renovation of its New York flagship.
Last week Cartier sued Saks, claiming the retail giant unlawfully evicted it from its space at the Saks flagship store at the corner of Fifth Avenue and 49th Street. Cartier sought an injunction to prevent its ouster, as well as $40 million in damages.
In Saks’ countersuit, however, the retailer alleges that it didn’t have a lease with Cartier but, rather, a five-year concession agreement, though it did admit that the agreement between the companies stated that changes in the location of Cartier wouldn’t be made without written consent from both parties.