ASOS is to pay £20.2 million in cash to two European retailers in order to settle trademark infringement disputes over its name.
German menswear brand Anson’s Herrenhaus filed its first complaint over the alleged infringement in 2010 and Swiss cyclewear manufacturer Assos of Switzerland followed suit the next year, following the rapid global success that ASOS had started to receive (the UK brand changed its name from As Seen on Screen in 2002.)
“We are pleased to have put this litigation behind us,” ASOS chief executive officer Nick Beighton said of reaching the deal. “Entering into this settlement at this juncture is the right commercial decision for our business.”
Source The Guardian