Arvind, one of the largest integrated textile and branded apparel players, said Monday the company's subsidiary Arvind Lifestyle Brands (ALBL) and US Polo Association, USA (USPA) agreed to enter into an amicable settlement with Ralph Lauren Corporation USA (RLC).

Under the terms of the settlement, ALBL and USPA have agreed to pay USD 3.20 million jointly to settle the lawsuit filed by RLC in the United States District Court. 
  
In 2013, RLC had instituted a suit in the United States District Court, against USPA and Arvind alleging breach of agreement between Ralph Lauren Corporation, USPA and Arvind on account of non-compliance in respect of disclaimers to be printed on USPA products sold in India.

Arvind Lifestyle Brands (ALBL), subsidiary of Arvind, has license to manufacture and market USPA branded products in India.

Shares of the company gained Rs 0.7, or 0.27%, to trade at Rs 264.45. The total volume of shares traded was 109,910 at the BSE (12.01 p.m., Monday).