27th September 2021 – (Hong Kong) Jessica Jung Soo-yuon, a former member of the South Korean girl group Girls’ Generation, created her own brand Blanc & Eclare in her early years, but the company holding the brand was involved in legal proceedings. A company filed a lawsuit in the Hong Kong High Court last Friday (24th), and to sue Blanc’s investor, Jessica’s boyfriend Tyler Kwon, alleging that the company holding the Blanc brand owed approximately US$6.82 million with principal and interest (equivalent to 53 million Hong Kong dollars).
The plaintiff in this case Joy King Enterprises Limited and the defendant is Tyler Kwon. According to the filing, Blanc Group Limited, which operates the international fashion brand Blanc & Eclare, borrowed US$3 million (equivalent to HK$23.4 million) and US$1 million (equivalent to HK$7.8 million) from Spectra SPC in October 2016 and May 2017 but it failed to repay. The plaintiff signed a transfer agreement with Spectra SPC in August this year to receive the two outstanding amounts from Spectra SPC. The defendant had still not repaid the loan principal plus interest, totalling more than US$6.824 million (equivalent to HK$53 million) when the loan expired on 10th September this year. Therefore, the plaintiff filed a lawsuit against the defendant in the High Court of Hong Kong.