Looking back on 2021 statistics it is apparent which brands in Europe have increased in value. The total value of Europe’s top 500 most valuable brands dropped 10% from €1.96 trillion to €1.76 trillion during the COVID 19 pandemic but some brands managed to buck this trend and increase in value despite, or indeed because of, the pandemic.
A review of the statistics shows that the automobile sector is the continent’s most valuable sector. It also reveals that changing consumer habits during the pandemic propelled the retail sector to record brand value growth and Germany’s DELIVERY HERO became the continent’s fastest growing brand. All those lock down takeaways paid off for DELIVERY HERO.
PENNYS/PRIMARK remains Ireland’s most valuable trade mark. PENNYS distinct brand identity as the “go-to” spot for cheap and fashionable clothing has kept the company in this position and is likely to keep them there for some time.
Ultimately, your brand is one of your most valuable business assets.
In today’s world of technology, it is often just the brand that stands between the customer and the brand owner. We, more often than not, shop online and therefore it is the brand and its reputation that entices our purchase. We opt for those brands we trust, those which we have tried before or have heard good things about, as we want to purchase a product or service which will provide us with a good experience. We cannot always feel the soft fabric of the clothing we desire or experience the taste of the delicious cakes we wish to eat or sit on the luxurious sofa, before we make our purchase and for this reason the brand and its reputation is everything.
It is imperative, therefore, that those signs which identify your brand, i.e., your name, logo, slogans, colours, shapes, etc, are protected through trade mark registration. And, once registered, are maintained and policed so that your rights are not diluted.
Having a registered right entitles a brand owner to invoke that right against a third party who is using a confusingly similar trade mark on identical or similar goods or services and is therefore attempting to piggy back on your reputation.
Whether you are one of the top brand owners in the world or not, protecting your brand by registration and protecting your business is a must for 2022.