Neiman Marcus Settles FTC Fake Fur Claims

The retailer agreed to comply with fur-labeling laws for 20 years

   

Neiman Marcus Settles FTC Fake Fur Claims

Neiman Marcus logo 300x115 Neiman Marcus Settles FTC Fake Fur ClaimsUpscale retailer Neiman Marcus has agreed to a settlement with government regulators over claims it sold products containing real animal fur as “faux fur,” and mislabeled the true source of the fur.

Under the agreement, privately-held Neiman Marcus will not face a financial penalty, but has agreed not to violate fur product labeling laws for 20 years. The Federal Trade Commission said that, in addition to selling real fur as fake, Neiman Marcus and two other retail chains did not identify the source of the fur in products they sold, as required by law, the Associated Press noted.

retail shopping display1 Neiman Marcus Settles FTC Fake Fur Claims
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The FTC approved the proposed settlement by a unanimous vote, but will consider public comment on the agreement for 30 days.

Neiman Marcus was also accused of listing a product that contained rabbit fur as having mink fur.

Last year, the high-end retailer partnered with discount chain Target (NYSE:TGT) to market a collection of holiday products.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/neiman-marcus-settles-ftc-fake-fur-claims/.

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