Belmond, an LVMH Maison, and the Cipriani family have reached an agreement that puts an end to all litigations between them around intellectual property. These legal issues go back several decades, well before LVMH acquired Belmond.
The new agreement establishes the respective rights of the parties around the Cipriani marks in different regions of the world. This will allow the development of these brands within a well-defined and clear legal frame.
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The Hotel Cipriani of Venice, a flagship property of Belmond, will be the only one in the world with that name.
The Cipriani Group, on its side, will be able to continue to expand its hospitality activities and restaurants in the most inspiring destinations of the world. Some of their projects will be developed with Belmond as partners.
“The agreement with Giuseppe Cipriani and his family marks the start of a new era for both Belmond and the Cipriani Group,” declared Roeland Vos, President and CEO of Belmond.
“We are very proud of the Hotel Cipriani, our mythical hotel in Venice, its magical location and the unique experiences it delivers to our guests. We wish the Cipriani family continued success in high-quality hospitality.”
Giuseppe Cipriani, President and CEO of Cipriani Group said: “We are grateful to Belmond and Mr Arnault for their openness to find a solution to longstanding litigations.
“Our family has been in luxury hospitality since my grandfather started in Venice in 1931. My father Arrigo, myself and my two sons have built on the Venetian heritage and the exceptional Italian gastronomy giving them worldwide desirability. We are happy to be able to continue the development of our family business within an appeased context,” he added.