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.
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Textile maker Arvind Ltd said on Monday its lifestyle brands subsidiary would pay USD 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".
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.
Arvind stock price
On March 30, 2015, at 13:10 hrs Arvind was quoting at Rs 266.60, up Rs 2.85, or 1.08 percent. The 52-week high of the share was Rs 341.40 and the 52-week low was Rs 165.80.
The company's trailing 12-month (TTM) EPS was at Rs 15.67 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 17.01. The latest book value of the company is Rs 102.08 per share. At current value, the price-to-book value of the company is 2.61.
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