ASOS pays £20m to settle trademark dispute

British online retailer ASOS has finalised a global settlement with two companies over a trade mark infringement.

After several court cases and trade mark registry actions around the world, ASOS have settled disputes with Swiss cycle wear manufacturer Assos and German menswear retailer Anson’s.

ASOS is to pay a total of £20.2m in cash to settle all outstanding litigation with both companies and secure the comprehensive co-existence of all parties.

The ASOS website attracted 123m visits and 12m active customers in June 2016. It sells over 85,000 products to the UK, US Europe and several other countries around the world.

Chief executive Nick Beighton commented: “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.”

Share price is up 0.75% at 4596.00p on Friday at 0906 BST.