Ralph Lauren to get $3.2 mln from Indian licensee Arvind in settlement

Textile maker Arvind Ltd said on 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.

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 said in a filing to the Bombay Stock Exchange that the companies got "into good faith discussions and agreed to enter into an amicable settlement without admission of liability of any party".

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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.

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