With entrepreneurship on the rise, domain name selling represents an emerging market with a great potential for profit.
By Christina Severino | amdlawgroup.com
Although Baby Boomers still control roughly 70% the U.S.’s total disposable income, targeting “Gen Y” consumers is still a necessary evil for all brands. Generational gaps (both economically and socially) have turned the tables on brands, who are now struggling to keep up with the flighty and sometimes unpredictable behaviors of “Gen-Y”. A 2013 survey by Accenture.com claims that Millennials who use social media are 28% more likely to make a purchase because of a social media recommendation. It is not enough that they simply “like” the brand to make them loyal customers.
Michael Kors is reportedly seeking a court order to prevent further advertising of its items by Costco. Additionally, profits and punitive damages as a result of the contested ads are being sought. Costco does not sell Michael Kors bags either in retail stores or online, and the misleading pricing is a far cry from the high end prices seen on the Michael Kors website, ranging from $298 to $1195.
Whether a company is small or large, licensing can be beneficial in a multitude of ways. Not only can licensing bring about an increase of revenue, but also can expand a company’s outreach and establish a permanent, recognizable brand. Establishing a brand name is a valuable marketing strategy that distinguishes a company from the rest of its competitors.
The fashion brand, Bottega Veneta, well-known for its hand bangs and fragrances, had filed its unique “knot” design for trademark registration. Initially, the design was rejected by the USPTO because the knot was a non-distinctive product design and needed a secondary meaning. Bottega Veneta attempted to prove that its knot was distinctive through submitting its sales record, media coverage, high remarks from other fashion industry experts, and a comparison with other famous luxury brand marks.
By Eliana Rocchi | amdlawgroup.com
An original and winning idea, supported by a thorough market research and an accurate business plan, has potential for becoming a successful business. However, another important step needs to be taken in order to avoid wasting such a great potential: one has to create a strong brand and protect it in all aspects.
By Ozelle Martin | amdlawgroup.com
Tyler Perry is a highly acclaimed film creator, screen and play writer, actor and now, a new trademark owner. Recently, he was involved in a blistering trademark battle, in the case of Tyler Perry Studios, LLC v. Kimberly Kearney. The featured actor in this tale of the trademark registration of “What Would Jesus Do?” was “use in commerce.”
By Diana Chan | amdlawgroup.com
When it comes to celebrity fashion, people are wondering what brand celebrities are wearing especially at red carpet events like the Golden Globes or the Oscars. One of the reasons people are so drawn to watching these events are to see what celebrities are wearing. The first questions media outlets ask are related to what the celebrity is wearing. And the response is almost always a luxury, high-end designer. For emerging luxury designers, having their brand identified with a particular celebrity enhances their recognition and puts their brand in the spotlight, giving designers a chance to showcase their brand. Celebrity fashion also goes beyond red carpet events and focuses on what celebrities wear in their day-to-day lives. As social media closely follows celebrity trends, brand awareness can be magnified through photos of what celebrities are repeatedly wearing and comparisons among what trends celebrities are embracing.
By Ann Marie Sallusti | amdlawgroup.com
Some consumers are more interested in buying a product for the label or brand it represents rather than the functionality of the product. Regardless of the price, a consumer may be willing to spend more money to own a product with a well-known label, such as Starbucks, Louis Vuitton, Apple, and Ralph Lauren. There may be a cheaper product on the market, but the consumer will pay extra money to own and use a popular name brand. The consumer is essentially buying the product for its label. The label is important to some consumers to determine whether it will be a worthwhile purchase. In an article written by David Ning, he explains some helpful details to consider before splurging on a designer product. For example, he discusses the design value, the importance of the item to the consumer, and whether the product is classic or seasonal. A product can be “in style” for a particular length of time, where the product value eventually expires. On the other hand, classic products are timeless, where the product value never expires. The value of the product is often calculated by society views and the importance of the item to the consumer. Even though one consumer may believe a product is seasonal, the same product may be invaluable to another consumer.
By Breanna Pendilton | amdlawgroup.com
The Michael Kors brand is arguably one of the most expensive and well-known labels in today’s fashion world. But these same characteristics, (expensive and well-known) are exactly what’s destroying the reputation of this brand. Outlet stores and small business are jacking down the prices, and while the good ole’ Michael Kors’ stores still exist, customers are much more apt to buying them cheaper at other discount stores and retailers.
Protection of your intellectual property begins locally. Your intellectual property is any creation of your mind. Most countries have laws that allow you to protect these creations. In this post we discuss forms of intellectual property you may already be using in your business and how to protect them.
An Italian eyewear luxury brand, Luxottica, announced their future partnership with Intel to create fashionable smart eyewear. Luxottica own many well known brands such like Ray-Ban, Oakley and Persol; the company also collaborates with Chanel, Prada, Giorgio Armani, Miu Miu, Tory Burch, and Stella McCartney. Intel and Luxottica plan to develop smart technology for eyewear designed and perceived to be worn in the future.
Why should a company protect its brand name? There is a multitude of reasons to register one’s trademark in the United States Patent and Trademark Office. One of the reasons is to stop others from copying your product and selling it as their own. To raise awareness of the harms the counterfeit market inflicts onto the fashion industry, New York City’s Fashion Institute of Technology opened a new exhibit “Faking It”.
By Diana Chan | amdlawgroup.com
As Abercrombie & Fitch attempts to rebrand, the company plans to remove all its logos on products in the United States by Spring 2015.
News about Zara is all over the press lately. Zara’s founder, Amancio Ortega, recently surpassed Warren Buffet as the world’s second-richest man; several days later, the billionaire was also accused of being one of the most racist. Now, a $40 million discrimination lawsuit claiming he favors hiring employees who are “straight, Spanish and Christian”, has been filed against him. This lawsuit absolutely adds fuel to the flames for Zara, because remotely in China, Zara’s “backyard” is “on fire”.