Trademark row settlement costs fashion firm ASOS £20.2m
Online fashion firm ASOS has forked out £20.2 million to settle a trademark dispute with two firms in Germany and Switzerland.
The settlement, with high-performance cycle wear manufacturer Assos of Switzerland and German menswear retailer Anson's Herrenhaus, follows several court cases and trademark registry actions around the world.
ASOS said the payout will secure a "comprehensive co-existence for all parties", with the payment reported as an exceptional item at year end.
Boss Nick Beighton 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."
In July, ASOS shrugged off Brexit fears as it upped its full-year sales outlook after cheering "strong" trading.