Arvind pays $3.2 mn to settle case with Ralph Lauren
30 Mar 2015
Textile maker Arvind Ltd said today Monday its lifestyle brands subsidiary would pay $3.2 million to Ralph Lauren to settle a lawsuit the US-based luxury fashion house filed in 2013.
Mid-priced, high-end casuals range Club Monaco and Polo maker Ralph Lauren had filed a case in a US District Court against Arvind Lifestyle and US Polo Association (USPA), alleging a breach of agreement regarding disclaimers to be printed on USPA products sold in India.
Arvind said in a filing to the Bombay Stock Exchange today that the companies got "into good faith discussions and agreed to enter into an amicable settlement without admission of liability of any party".
Arvind Lifestyle Brands Ltd is a licensee of many international brands in India, and has of late tied up with US retailer Gap Inc to sell its clothes in the country.