Here are TFL’s Top Stories of the Week

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Whaleco Technology Limited – the retail giant that does business as Temu – is the latest company to be designated as a Very Large Online Platform (“VLOP”) under the Digital Services Act (“DSA”), a European Union law that aims to counter the sale of illegal products and services on online marketplaces and combat illegal and harmful content on and practices by online platforms. The European Commission said on Friday that the online marketplace has an average of more than 45M monthly users in the EU, a number that Temu “has communicated to the Commission” and that is “above the DSA threshold for designation as a VLOP.”


According to the Commission, “Following today’s designation as a VLOP, Temu will have to comply with the most stringent rules under the DSA within four months of its notification (i.e. by the end of Sept. 2024), such as the obligation to duly assess and mitigate any systemic risks stemming from their services, including the listing and sale of counterfeit goods, unsafe or illegal products, and items that infringe intellectual property rights.”


A spokesperson for Temu told TFL on Friday, “Temu acknowledges the European Commission’s designation of our platform as a Very Large Online Platform under the Digital Services Act. We are fully committed to adhering to the rules and regulations outlined by the DSA to ensure the safety, transparency, and protection of our users within the European Union.”


In some deal-making (and other finance) news this week …

– Julie Zerbo
Founder & Editor-in-Chief

Here are TFL’s top articles of the week …

1. Plaintiffs Bulk Up Claims in Antitrust Case Over Hermès Birkin Bag Sales. In an amended complaint, as first reported by TFL, the Ps argue that Hermès has sufficient power in the luxury goods market, which it has “systematically exploited … to engage in a deceptive & manipulative pricing scheme.” 


2. Will a Tapestry, Capri Merger Really Harm Consumers? Tapestry & Capri have argued that the proposed merger “poses no risk of anticompetitive harm to any consumer of handbags,” as there is a “myriad [of] brands offering handbags across a wide & essentially contiguous spectrum of pricing.” 

3. German Court Sides with Nike in Latest Round of adidas Trademark Fight. The two sportswear giants have been facing off in court in Germany since early 2022 when adidas filed a TM infringement lawsuit against Nike. 

4. Hayley Paige, JLM Settle Social Media-Centric Lawsuit. A Delaware bankruptcy court has approved a settlement agreement between wedding dress designer Hayley Paige Gutman and JLM Couture.


5. Can Fashion Brands Continue to Grow Without Making More Stuff? Product circulation & value added services are critical avenues for companies considering the value of a service-based – versus a production-based – economy. 

6. Our latest TFL Pro Deep Dive is here in the form of our Biannual Review 2024, which is a review of the stories and subjects that dominated the news during the first half of the year.


7. Companies, Directors Will Soon Face Steep Penalties Over Climate Disclosures. Large co. will have to publicly disclose detailed info. about what they are doing to reduce carbon emissions & other climate-related financial info. thanks to new rules in countries across the globe. 


8. Less is More? Why More Brands Are Opting for Minimalist Packaging. New research shows that products in simple packaging generally command higher retail prices than similar products that do not.