Gucci “Hearts” New York but sadly, it is an unrequited love. We first covered the happy story of this partnership last week. But since then, New York City’s Empire State Development Corporation (ESDC), who owns the trademark to I “heart symbol” New York, became a little ticked that PPR (who owns Gucci) did not get permission to use this logo. Uh, did they also hear that all the proceeds from this bag is going back to New York to the Playground Partners Central Park Improvement Program? What is the issue here really? It sounds to me like ego because not only is there no harm, this only benefits the city with cash and PR. And what sane person would fight to turn away cash and PR? This makes no sense. So, to be charitable, we first have to consult with our legal team? I mean, sure Gucci gets something out of this, they want to promote their new giant flagship store on 5th Ave but hello, doesn’t that also benefit the city of New York? Decisively marking it as the fashion capital and the most important market for Gucci? Margaret Brennan of CNBC is covering the ongoing saga, read her continuing coverage.