Ralph Lauren to get USD 3.2 million from licensee Arvind Ltd in settlement

Arvind Ltd, a textile company, said on Monday that its subsidiary, Arvind Lifestyle Brands, would pay $3.2 million to Ralph Lauren to settle a lawsuit that the US-based luxury fashion house filed in 2013.

The Club Monaco and Polo Ralph Lauren maker 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.

On Monday, Arvind Ltd said in a filing to the Bombay Stock Exchange (BSE) 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 is a licensee of many international brands in India, and has of late tied up with US retailer Gap to sell its clothes in the country.

(Reuters)