UK fashion retailer Asos has settled two long-running legal disputes, which saw European clothing manufacturers accuse the online giant of trade mark infringement.
Asos first found itself facing legal action against cycle wear manufacturer Assos of Switzerland and German menswear brand Anson’s Herrenhaus several years ago – both of whom claimed that the Asos name infringed their respective trade marks.
The UK retailer has reportedly paid out £20million in full and final settlements to the two European claimants – equating to approximately 30 per cent of Asos’ pre-tax profits in the year to 31 August 2016.
These settlements have ‘drew a line’ under six years of infringement claims in countries including the UK, US and Germay, according to The Telegraph.
According to reports, Asos will be disallowed from opening high-street stores in Germany – and will also be barred from selling cycle wear under the deal.
However, the British-born company, which was first established in 2000 and specialises in online sales, will be within its rights to offer its own Asos-branded sportswear range.
Asos has said that it hopes the deal will “secure a comprehensive co-existence for all parties” involved.