Adidas to Nike: Take That!
Adidas (ETR:ADS) tasted victory Wednesday in its most recent battle with bitter athletic-shoe rival Nike (NYSE:NKE). A court in Nuremburg, Germany ruled to sweep away the injunction that had been blocking sales in Germany of Adidas’s new Adizero Primeknit running shoe.
Last month, Beaverton, Oregon-based Nike filed an injunction that halted production of Adidas’s shoes on the grounds that the shoe infringed on Nike’s copyrighted technology featured in its own Flyknit running shoe.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
The uppers of both Nike’s Flyknit and Adidas’s Primeknit shoes are composed of one piece of fused yarn, a technique Nike claims it pioneered when it released the Flyknit back in February, but Adidas’s maintains has been in use since the 1940s.
However, the court ruled in favor of Adidas, proclaiming the company can resume selling the Primeknit shoe in Germany on November 7.
For its part, Nike is not prepared to take the defeat quietly. A spokeswoman for the company said that it will continue its battle to defend the ‘knitted’ shoe technology. “We will continue to aggressively protect our intellectual property rights, including through the conclusion of this interim injunction proceeding as well as in a formal infringement case.”