![]() This ultimately led to BLANC & ECLARE being sued. Tyler Kwon said that he had explained that BLANC & ECLARE had reached an agreement with Spectra SPC to extend the time period of the loan, but Joy King Enterprises kept insisting on getting back the sum on the two-week deadline. ![]() Joy King Enterprises suddenly contacted us to repay the loan within two weeks.” “However, in August, the loan was transferred to Joy King Enterprises and without our knowledge that the loan had been transferred. In 2020, due to COVID-19, we came to an agreement with Spectra SPC to extend the time period of the loan past what we had initially agreed with.” Kwon stated, “After we first received the loan from Spectra SPC in 2016, we paid off the loan diligently for about three years. Within one month of the transfer, Joy King Enterprises suddenly demanded that BLANC & ECLARE pay back the sum of $6.5 million, which included the interest, within two weeks. This is not Jessica’s personal debt, but a loan made to BLANC & ECLARE.” Referring to misleading reports that suggested the loan had been made to Jessica as an individual, he added, “Her character has been defamed.”Īccording to Tyler Kwon, BLANC & ECLARE had borrowed $4 million from Spectra SPC, and Spectra SPC later transferred that loan to Joy King Enterprises back in August. He added, “The situation is one that can be readily resolved. Tyler Kwon explained that the situation was “unfair” and that it had arisen due to the loan being transferred to a new creditor. On September 28, Tyler Kwon, who is the CEO of Jessica’s agency and her boyfriend, clarified the news reports by several Hong Kong media outlets that BLANC & ECLARE has been sued by Joy King Enterprises over an unpaid debt of $6.5 million. Fans also shared how proud they are of Jessica for the growth of her brand. Fans express their pride at Jessica's accomplishments and hope that the brand only continues to grow more in the future.Īre you also excited to see the upcoming collection from Blanc & Eclare? Share your thoughts below.BLANC & ECLARE, a fashion brand founded in 2014 by Korean-American singer and actress Jessica Jung – formerly of K-pop girl group Girls’ Generation – is currently embroiled in a lawsuit for defaulting on a loan. The flagship store did extremely well and even reached a sale equivalent of $100,000 in the first hour and a half. With Blanc & Eclare's consistent production of chic and cool clothes, fans are excited to see what designs they will unveil this year.Įarlier this year, she also opened an online flagship store for B&E. Fans wonder whether the store in Shanghai will open around the same time as well and share their anticipation.įans all share their excitement at the arrival of the new collection. On October 11th Blanc & Eclare's official Instagram also posted about their new upcoming collection that is to be released soon. Fans immediately caught wind of it, and soon they were all expressing their excitement for the arrival of the new store. The brand is sold in over 60 stores worldwide, and a restaurant named Clareau was opened on the second floor of their flagship store in Seoul. The brand has also become a staple in the K-pop industry. From idols to actors to even foreign celebrities wearing clothes from its collection, Blanc & Eclare has been a closet must-have for all our favorite celebrities.Įarlier today, a user on Weibo garnered attention when they posted a picture of the alleged Blanc & Eclare shop with coming soon banners. The brand, which started off with a few simple sunglasses, now sells clothes and accessories of all kinds. Jessica Jung's fashion brand Blanc & Eclare is well-known and loved.
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