To Open The Cloud, We Need To Pay A Total Of About 21000000 Euros Compensation To Hedi Slimane.

In December 3rd, the Paris Commercial Court made judgments on a number of legal disputes between the French luxury giant Kering and the famous designer Hedi Slimane.
Since 2012, as the creative director of Kai Yun's brand YSL (Saint Laurent), Hedi Slimane has attracted a large number of young consumers by neutral modeling, matching tailoring and tight jeans. It has helped the brand achieve a successful recovery. Sales surged from 353 million euros in 2011 to 974 million euros in 2015, and three times. Surprisingly, Hedi Slimane left in April 2016, and the successor was Anthony Vaccarello, a Belgian designer from Versace.
Since then, Kering group said in a statement: "the group has lifted the terms of prohibition of business strife before the end of the Hedi Slimane contract to avoid any potential restrictions on Hedi Slimane. But Hedi Slimane believes that the clause should continue to take effect, and Kering group should pay corresponding financial compensation to sue Kering group.
In June 2016, the French Commercial Court decided that the Kering group should pay a total of $13 million to Hedi Slimane. Kai Yun group said at that time that it would continue appealing.
According to the court's decision in 2016, the Kering group should pay a compensation of 12 million euros to the company Hedi Slimane in California. In the December 3rd judgment, the Paris commercial court dismissed the appeal from the Kering group for the withdrawal of the award, and requested the Kering group to pay an additional 20 thousand and 2000 euros of compensation to Hedi Slimane and its company respectively, in order to cover the additional expenses caused by the lawsuit.
On the same day, the court also made a judgment on another legal dispute over the rights of shareholders of Hedi Slimane.
Hedi Slimane has a certain stake in YSL during his service. After he left, Kering group terminated the equity agreement between the two parties. In October 2016, Hedi Slimane appealed to the old company to comply with the cooperation agreement of the two sides, giving him certain rights as a minority shareholder of YSL, especially the right to obtain information.
In 2018, the Paris commercial court sentenced the Kering group to pay 9 million 300 thousand euros compensation to Hedi Slimane. The amount of compensation is the floating salary part of Hedi Slimane during the YSL brand as the creative director. Kai Yun declined to comment, but decided to appeal again.
In December 3rd, the Paris commercial court said that the unilateral termination of the agreement by the Kering group was not in accordance with the rules. It was decided that the equity agreement between the two parties would remain valid, requiring the Kering group to pay the 9 million 300 thousand euros compensation previously awarded and to compensate the Hedi Slimane for additional 50 thousand euros due to the lawsuit.
Together with the two judgments, the Kering group needs to pay Hedi Slimane up to about 21000000 euros in compensation. However, the court also rejected the request made by Hedi Slimane for the Kering group to pay additional civil penalties and interest damages.