Company promises ‘rapprochement discount’ with shoppers from country after decade-long action in EU court
The UK supermarket chain Iceland has reportedly abandoned its decade-long trademark battle with Iceland and instead promised a “rapprochement discount” for shoppers in the country.
After the budget grocery chain suffered its third legal loss last year, its executive chair, Richard Walker, said on Wednesday that it would draw a line under the dispute.
He told the Financial Times that he would take “the couple of hundred of grand we would have spent in legal fees in the fourth and final round in the EU court and reapply that to a rapprochement discount to the good Icelandic people. It’s something I’m going to do.”
The discount is expected to take the form of shopping vouchers that Icelandic people can use at the frozen food retailer.
