Yes and no. The town I grew up in was Red Wing, MN. There is a company there called Red Wing Shoes (which makes shoes). There is also a Red Wing Brewery there. There is no trademark infringement in that case because no one is going to confuse a brewery and a shoe manufacturer. However, if someone opened up a Red Wing Shoe Lace company there would be. This guy is branding wheels under a name that Specialized has trademarked. That is a clear violation of trademark law.

A better example is there is also a famous Red Wing Pottery there. If I started making Red Wing Ceramics I would probably not be safe from getting sued.