Arvind to pay Ralph Lauren $3.2m to settle lawsuit
Ralph Lauren will receive US$3.2m in the settlement
US apparel giant Ralph Lauren is to receive US$3.2m in a settlement from Indian textile maker Arvind Lifestyle following a lawsuit the US luxury fashion brand filed in 2013.
Ralph Lauren filed the case in a US District Court against Arvind and US Polo Association (USPA), alleging a breach of agreement regarding disclaimers to be printed on USPA products sold in India.
In a stock exchange filing, Arvind said 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, a subsidiary of Arvind Limited, has the license to manufacture and market USPA branded products in India.
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