Fortunoff Intellectual Property Auction Set for June 18, 2009
The formal auction of the Fortunoff intellectual property and intangible assets portfolio is scheduled to be held on Thursday, June 18, 2009, at the offices of Sidley Austin, LLP, 787 Seventh Avenue, New York, NY 10019. The deadline for receipt of all qualifying bids is June 16th, 2009 at 4:00 PM eastern time, with the sale approval hearing scheduled for June 22, 2009. The sale is being managed by CONSOR Intellectual Asset Management.
New York, NY (Vocus/PRWEB ) June 16, 2009 -- The formal auction of the Fortunoff intellectual property and intangible assets portfolio is scheduled to be held on Thursday, June 18, 2009, at the offices of Sidley Austin, LLP, 787 Seventh Avenue, New York, NY 10019. The deadline for receipt of all qualifying bids is June 16th, 2009 at 4:00 PM eastern time, with the sale approval hearing scheduled for June 22, 2009. The sale is being managed by CONSOR Intellectual Asset Management.
Fortunoff's intellectual asset portfolio for sale includes certain trademarks, domain names, and customer databases. In addition, CONSOR has identified additional value added elements such as the bridal registry, exclusive jewelry designs, 1-800-Fortunoff, training materials, knowledge databases and IT systems. The primary IP assets for sale are:
Worldwide Trademark Portfolio: Over 70 registered trademarks including, Fortunoff, The Source, Prime Time, Oxford Hall, FSS and Avignon.
Domain Names: Over 75 International domain names including, Fortunoff.com, fortunoffbrides.com and fortunoffjewelry.com.
Toll Free Numbers: 1-800-FORTUNOFF / 1-866-FORTUNOFF / 1-888-FORTUNOFF
Customer Database: Over 750,000 customer names, many with detailed purchase history in jewelry, home furnishings and bridal registries.
IT Assets:
| | - Fortunoff.com website- including copyrighted design layout and source code
- Customer Relationship Management (CRM) System
- Fortunoff Intranet - Complete training materials, style guides and other critical marketing/training assets
- DCWizard Warehousing System - Using radio frequency technology, this system provides real-time inventory management and distribution.
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Exclusive Jewelry Designs:
| | - Petra collection (approximately 25 designs)
- House 533 collection (approximately 1,000 designs)
- House 511 collection (approximately 500 designs)
- House 513 collection (approximately 2,000 designs)
- Avignon - Branded Swiss watches
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Fortunoff Branded Products:
| | - The Source grills
- Window treatments
- Dinnerware
- Towels
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On this assignment, CONSOR has worked closely with Fortunoff's financial advisor, Zolfo Cooper, and with Fortunoff's legal counsel, Sidley Austin, in the auction and sale of the assets as contemplated under the sale procedures.
"We are very pleased with the progress of our marketing effort," said Doug Bania, Director of Business Development, CONSOR. "Fortunoff has been a long standing icon in the luxury goods segment- best known for delivering tremendous value to its' customers through an array of high quality products at exceptional prices, as well as providing outstanding customer service. We look forward to a dynamic auction process, which translates into a sizable recovery for the estate."
About CONSOR:
CONSOR is recognized as an industry leader in the valuation, licensing and disposition of all forms of intellectual property and intangible assets. CONSOR professionals have extensive experience in protecting, preserving and maximizing the value of intellectual property and intangible assets in distressed situations. Over the years CONSOR has valued and/or disposed of the intellectual property portfolios for major retailers in bankruptcy including Barneys, Montgomery Wards and Service Merchandise, among others. Recently, CONSOR has managed multi-million dollar dispositions of the intellectual property portfolios for Tower Records and Collins & Aikman.
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