NEW YORK, Jun 6, 2007/ FW/ --- If you bought any bags, wallets and scarves with a Fendi label from Sam’s Club, you will get a full refund if you return the item.

In a joint statement today, Fendi and Sam’s Club, a division of Wal-Mart Stores, Inc., announced that they have a resolved their dispute in the litigation that Fendi currently has pending against various retailers. Fendi claimed in the litigation that Sam’s Club and various retailers sold counterfeit bags and other products under the Fendi label.

Under the agreement, Sam's Club has agreed to pay to Fendi an undisclosed settlement amount and Fendi will dismiss its lawsuit against Sam's Club.

Both Fendi and Sam's Club are committed to the enforcement of intellectual property rights to maintain the value of genuine products. Fendi on its part will continue its campaign to protect its brand name and Sam's Club will continue its commitment to sell quality, genuine products in its clubs. Sam's Club earlier removed all Fendi-labeled bags, wallets and scarves from its shelves.