Hermès' resilience in the luxury market downturn demonstrates the power of exclusivity and brand protection, as Trade Mark Attorney Megan Rannard explores in her recently published letter to the Financial Times.
In her letter to the editor, Megan responds to an article on Hermès' market performance by emphasising how luxury brand success extends beyond financial metrics to focus on brand identity protection, noting that "true success lies in cultivating a powerful brand identity — where protecting the brand's image is just as crucial as financial growth."
Referencing the significant Hermès vs Rothschild "MetaBirkin" NFT case, which established an important precedent for luxury brands defending their intellectual property in digital environments, Megan concludes that "Strong IP enforcement and a commitment to reputation are what keep luxury brands truly luxurious — and should never be overlooked, no matter what the market's doing."
At Marks & Clerk, we work with brands to develop comprehensive IP strategies that protect brand identity and support business growth. For more information on safeguarding your brand's value, please contact our specialists.
The reality for successful businesses is that if their brand is strong, it will attract people who want to copy or imitate it.