‘Blanc & Eclare,’ the fashion label that branched into the business world by the formal member of Girls’ Generation, Jessica Jung, is facing a multi-million dollar lawsuit in Hong Kong.
According to a Hong Kong news outlet, The Standard, the fashion brand founded by Kpop star Jessica Jung is embroiled in a lawsuit over a loan made by its investors.
The report says the international fashion brand Blanc & Eclare first borrowed $3 million from Spectra SPC in October 2016 and asked for another $1 million from the same company in May 2017. Joy King Enterprises then entered into the debt transfer agreement with Spectra SPC in August 2021 and has subsequently become Blanc & Eclare’s lender.
Since Blanc & Eclare borrowed $4 million and failed to repay it on time, Joy King Enterprises filed a High Court lawsuit to recover $6.8 million in principal and interest.
Previously, Jessica launched her fashion brand ‘Blanc and Eclare’ in August of 2014 after leaving Girl’s Generation. The brand is currently run by a Korean-American entrepreneur, Tyler Kwon, who is also known as Jessica’s boyfriend.
Source (1)
