Asos ends name row but is out of bike raceComments Off on Asos ends name row but is out of bike race
Fashion firm Asos has brought an end to a long-running legal battle over its name, but the deal came at the expense of the opportunity to target the ever-growing market of middle-aged-men-in-Lycra.
It paid £20.2 million to settle trademark disputes with Switzerland’s Assos, a cyclewear maker, and German menswear retailer Anson’s, which date back to 2010 and 2011.
It is now free to trade in all the categories and countries in which it operates, but it is barred from the booming cycling market and courting the many Mamils who have been inspired by Olympians like Laura Trott . There are also conditions on bricks-and-mortar stores.
Chief executive Nick Beighton said the restrictions were not a concern as Asos does not sell cycling gear and the retailer was pleased the cases were behind it.
“These cases could go on for years and years and be a big distraction. This gives us 100% clarity.”
The shares rose 2.6% to 4681p in response.
Asos is not the first to be targeted by Anson’s. It previously tried to challenge a trademark application by UK group Hanson Partners.