Copais sues over store opening
Fashion producer Copais launched a lawsuit against a SKN a south Korean Group.
Copais claimed that SKN failed to fullfill its commitment based on contracts with SKN company OBZEE. Copais signed contracts with OBZEE to become sole agents of Korean brand Kang Jin Young in China. According to the contract it was suppose to open 50 stores over a five year period. Copais applied to open 60 stores, but since late 2007 the company only opened 5 stores. Zhao Yunhu president of Copais claimed that SKN hindered Copais store openings throught a series of malicious deeds. Total losses for Copais is expected to reach the 500-600 yuan mark.