In two interviews last week, Jan Cameron said she planned to set up a business of 60 stores -- 30 in this country and 30 in Australia.
She said she was setting aside $A27 million ($NZ33.5m) for the venture.
Her revelation came just days after the current private equity owners of Kathmandu announced details of a $A440m float of the company, The Age newspaper reported.
Kathmandu chief executive Peter Halkett told Fairfax Media at the weekend that Ms Cameron had signed a restraint of trade agreement with Kathmandu until May 2011.
He said this prevented her from even mentioning plans if they involved starting a competing brand.
Ms Cameron said restraint of trade was a grey area of law that would be tested at some point. She did not believe it prevented her talking about her intentions.
