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 natural historian is not a fisherman who prays for cloudy days and good luck merely; but as fishing has been styled “a contemplative man’s recreation,” introducing him profitably to woods and water, so the fruit of the naturalist’s observations is not in new genera or species, but in new contemplations still, and science is only a more contemplative man’s recreation.”
—Henry David Thoreau (1817–1862)
“As for America, it is the ideal fruit of all your youthful hopes and reforms. Everybody is fairly decent, respectable, domestic, bourgeois, middle-class, and tiresome. There is absolutely nothing to revile except that it’s a bore.”
—Henry Brooks Adams (1838–1918)
““You brood of vipers! Who warned you to flee from the wrath to come? Bear fruit worthy of repentance.””
—Bible: New Testament, Matthew 3:7-8.
“It is difficult to separate the tapestry
From the room or loom which takes precedence over it.”
—John Ashbery (b. 1927)