UK fashion retailer, Asos, has settled two long-running legal disputes in relation to alleged trade mark infringement.
Asos faced legal action brought forward by Assos of Switzerland (a professional cycle wear manufacturer) and Anson’s Herrenhaus (a German menswear brand and retailer) who both claimed that the Asos mark infringed their respective trade marks. Both opponents were already in business when Asos changed its name from “As Seen on Screen” to “Asos” in the early 2000s.
The UK retailer has reportedly paid out approximately £20million in full and final settlement to Assos of Switzerland and Anson’s Herrenhaus which equates to approximately 30 per cent of Asos’ pre-tax profits in the year to 31 August 2016.
According to reports, Asos will not be allowed to open high-street stores in Germany and will also be barred from selling cycle wear under the terms of the agreed settlement.
Asos has said that it hopes the deal will secure a “comprehensive co-existence for all parties” involved.