Arvind’s subsidiary company - Arvind Lifestyle Brands (ALBL), has decided to pay $3.2 million to Ralph Lauren (RLC) to settle a lawsuit 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 ALBL and US Polo Association (USPA), alleging a breach of agreement regarding disclaimers to be printed on USPA products sold in India.
The Parties thereafter got into good faith discussions and agreed to enter into an amicable settlement without admission of liability of any party. Under the terms of the settlement, ALBL and USPA have agreed to pay jointly settlement amount to RLC. As per the settlement Agreement, ALBL shall pay $3.2 million in full settlement and satisfaction of the dispute between the Parties.
