Neiman Marcus Settles FTC Fake Fur Claims

by Christopher Freeburn | March 19, 2013 3:12 pm

Neiman Marcus logo 300x115 Neiman Marcus Settles FTC Fake Fur Claims[1]Upscale retailer Neiman Marcus has agreed to a settlement with government regulators[2] 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.

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[3] Target (NYSE:TGT[4]) to market a collection of holiday products.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/03/Neiman_Marcus_logo.jpg
  2. has agreed to a settlement with government regulators: http://www.washingtonpost.com/business/neiman-marcus-2-other-retailers-agree-to-settle-charges-that-they-marketed-real-fur-as-fake/2013/03/19/26655dca-90a5-11e2-9173-7f87cda73b49_story.html
  3. partnered with discount chain: http://investorplace.com/2012/07/the-target-neiman-marcus-partnership-looks-like-a-winner/
  4. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT

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