Etail giant Asos has agreed to pay out £20.2m following trademark battles with cycle brand Assos and menswear retailer Anson’s.
The fast-fashion etailer has been locked in disputes with cyclewear manufacturer Assos of Switzerland and German menswear retailer Anson’s Herrenhaus over alleged trademark infringement.
Following several cases being heard in court and multiple trademark registry actions around the world, Asos has reached a settlement with the two companies.
The etailer said that agreements have been entered into whereby it is to pay a total of £20.2m in cash, in a full, final and global settlement of all outstanding litigation with each of Assos and Anson’s, securing a “comprehensive co-existence” for all parties.
Asos chief executive Nick Beighton said: “We are pleased to have put this litigation behind us. Entering into this settlement at this juncture is the right commercial decision for our business.”
The payment will be reported as an exceptional item at the year end.