Trollbeads United States and parent company Lise Aagaard Copenhagen have claimed victory in their year-long legal battle with Lund Trading over who controls the line’s U.S. distribution.
According to a statement issued by Aagaard, a Danish court has determined that Trollbeads’ termination of its contract with Lund Trading on Jan. 25, 2011, was lawful. The proceeding was a confidential arbitration, the company added.
Lund, the line’s longtime distributor, had challenged the termination in U.S. federal court, saying its contract with Trollbeads had time left on it. Trollbeads argued that Lund was in breach of contract for supporting a rival brand. Eventually the battle shifted to Denmark, after the presiding judge suggested that would be a better place to resolve this dispute.
Morten Peterson, CEO of Lund Trading, tells JCK he was “disappointed by the ruling from the Danish court.”
“I remain proud of the work Lund Trading did with retailers across North America,” he adds. “Together we built the biggest and most successful market of the Trollbeads product in the world.”
Last August, Michael J. Belleveau, the former president and chief executive officer of Baccarat, was appointed CEO of Trollbeads U.S.
In a statement, Belleveau pledged “aggressive expansion” of the brand.
“As newly integrated digital, trade and consumer plans begin to rollout, Trollbeads is entering into a very powerful position and expects considerable growth vs. a year ago,” he said.