New Delhi: Relaxo Footwears on Saturday said it has reached a settlement with competitor Bata India over the use of trademark 'SPARX' in favour of Relaxo Footwears.
"The company has executed a deed of settlement with Bata India for assignment of trademark 'SPARX' in favour of Relaxo Footwears Ltd," Relaxo Footwears said in a filing to the BSE.
"Both companies have agreed to file necessary consent terms before the Hon'ble Delhi High Court in due course, for withdrawal/settlement of all pending litigations filed by/against Bata India Ltd and the company," it added.
Relaxo Footwears said the benefit on account of this assignment of trademark along with saving in cost of litigation is considered to be materially beneficial to the company in the long term.
In 2009, Bata dragged Relaxo Footwear before the Delhi High Court alleging infringement of one of its popular brand Sparx.
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