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January 23, 2006
Polo Zips Back Into Its Denim Business
Polo Ralph Lauren is buying back its U.S. jeans business from Jones Apparel Group through a settlement of $355 million.
The two companies had been disputing over licensing of the denim business and had entered litigation in 2003. Jones said that the license put restrictions on what it could sell.
Through the settlement, Polo hopes to reclaim control of its global jeans market. It already has healthy demand in Europe and Asia and said it hopes to grow the business even further in the U.S.
Posted by Blacks on January 23, 2006 08:20 AM
