Online based retail giant Asos has today announced that it has settled ongoing trade mark infringement disputes with two European companies, namely Assos and Anson’s Herrenhaus. Assos is a specialist manufacturer and retailer of high performance cycle-wear. It was established in the 1970’s and is renowned for its innovative apparel. Anson’s was founded in 1989 and is a multi-brand menswear retailer selling premium brands including Polo Ralph Lauren, BOSS and Belstaff.
The London-listed company has agreed it will pay a total of £20.2m in cash to Assos and Anson’s- this will represent a “full, final and global settlement” of all outstanding litigation with both Assos and Anson’s and further it will “secure a comprehensive co-existence for all parties”.
Asos’ chief executive, Nick Beighton commented “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 case had resulted in “several” court hearings. As well as multiple trade mark registry applications around the world.
The payment will be reported as an exceptional item in the fashion retailer’s full-year results.