Fruit of The Loom Lawsuit
In April 2001, one of Gildan’s other competitors, Fruit of the Loom (FTL), launched a lawsuit, alleging that Gildan had stolen its top-secret strategic document “Plan Sew” and had hired away key executives to gain unfair competitive advantage. FTL was on the defensive after its poor performance in an ongoing pricing war initiated by the arrival of Gildan in the US marketplace in 1997. By the end of 1999, FTL had filed for Chapter 11 bankruptcy in the US. The lawsuit was subsequently stayed by mutual agreement between the two companies. Gildan even attempted to buy out the faltering company, but Fruit of the Loom was eventually purchased by Berkshire Hathaway Inc.
Read more about this topic: Gildan Activewear
Famous quotes containing the words fruit of the, fruit of, fruit and/or loom:
“...the fruit of the Spirit is love, joy, peace, patience, kindness, generosity, faithfulness, gentleness, and self-control.”
—Bible: New Testament, Galatians 5:22.
“The strawberry grows underneath the nettle,
And wholesome berries thrive and ripen best
Neighbored by fruit of baser quality.”
—William Shakespeare (1564–1616)
“It is, I fear, but a vain show of fulfilling the heathen precept, “Know thyself,” and too often leads to a self-estimate which will subsist in the absence of that fruit by which alone the quality of the tree is made evident.”
—George Eliot [Mary Ann (or Marian)
“... it appears to me that problems, inherent in any writing, loom unduly large when one looks ahead. Though nothing is easy, little is quite impossible.”
—Elizabeth Bowen (1899–1973)