L'Officiel USA Makes Settlement Offer to the City of New York

NEW YORK, Jan. 18, 2022 /PRNewswire/ -- L'Officiel USA today announced that it has made a settlement offer to the City of New York. Immediately upon being notified of the matters outlined in the City's action (NYS Index No. 453762/2021), the company took measures to ensure a prompt resolution. L'Officiel USA followed up with a formal proposal to the City on December 6, 2021, and is currently in discussions with the City to finalize a settlement.

The settlement offer letter states that L'Officiel USA will arrange payment for all of the amounts due, as listed in the action's Appendix A. Such payments will be made within five business days of full execution of a settlement agreement.

In addition, L'Officiel USA has instituted a series of measures to ensure that freelance workers are paid in a timely manner and in full. To expedite payments, the company has transferred mnagement of its accounting system to its New York office, and a compliance task force was formed earlier this month. Comprised of members of the magazine's New York-based finance and operations staff, the task force is responsible for enforcing contracts, processing invoices and remitting payments.

L'Officiel's Board of Directors today made the following statement:

"L'Officiel's 100-year history of employing writers, editors, stylists, and photographers shows our strong dedication to fashion journalism. We are committed to cooperating with the City and to supporting freelance talent in the U.S. and around the world. We intend to lead the way to meaningful change across the industry."  

About L'Officiel 
L'Officiel Inc. is the operational holding company for L'Officiel USA and the global L'Officiel network and its satellite brands. L'Officiel publishes 33 editions and has a social footprint of 25.5 million, 5.4M Unique monthly users, and a print audience of more than 2 million readers around the world. Its global platform is LOfficiel.com.

Media Contact: Adriana Stan, [email protected], 917-628-0362

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SOURCE L’Officiel Inc.

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