ASOS has announced that it has come to a global settlement with regard to the trademark infringement disputes with Assos of Switzerland, who produce high-performance cycle wear and Anson’s Herrenhaus, a German menswear retailer.
The disputes have resulted in several cases being heard in court, as well as multiple trade mark registry actions around the world.
The online fashion retailer has made an agreement whereby the company will pay a total of £20.2 million in cash, in a full and final global settlement of all outstanding litigation with Assos and Anson’s and will be reported in the company’s year-end as an exceptional item.
Nick Beighton, ASOS chief executive, 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."
