Transcription
"original design / Registered / BY A MEMBER OF / FASHION ORIGINATORS GUILD"Notes
From vintagefashionguild.com: "...1932, garment designers banded together to prevent design theft, commonly known as "knock offs", by manufacturers. They formed the Fashion Originators Guild of America (F.O.G.A.)....In 1941 the Supreme Court held that the Guild's practices violated the Sherman Antitrust Act, thus ending the use of self-help trade restrictions."