Can you own 2 competing brands

Long story short, I now have 2 brands for the product I am selling due to a series of events thats not worth explaining. I am currently selling some dumbells under one brand printed, but have a shipment coming in for another kind of dumbell, with the other brand printed on. I am still in the process of registration for these brands. of course these 2 dumbells will be competitors. is this allowed?