The designer icon Diane Von Furstenberg’s case is very illustrative. Her fashion company is suffering from previous mistakes that are being exacerbated by the pandemic and she is mobilizing to protect what is left of her business.
Her company, DVF LLC, has been losing money for years since had heavily invested in expensive real estate for its retail stores, relying on old business models. Then the pandemic hit and consumer habits changed with no end in sight. There was nowhere to hide past mistakes.
Who needs now a cocktail dress? Yeah. The pandemic is the last straw that broke the camel’s back.
Just as with people, the pandemic is brutal with businesses. “Corona hits someone a lot worse if they have a precondition,” Ms. von Furstenberg said in an interview with the New York Times.
The company has filed for bankruptcy in Europe and it is closing 18 of 19 stores in the USA. According to the Times, DVF’s physical existence in the USA will be limited to the ground floor of its headquarters in New York City.
What it is left when the stores and employees are gone? The Brand.
Protecting Brands Filing Trademarks
Diane Von Furstenberg is a trademark of DVF, LLC. See the registration here.
“Time and time again, the difference between products from different competitors is just the brand,” said branding and trademark attorney Marcos E. Garciaacosta, “with products coming from even the same factories or with the same ingredients, the value of the brand is what customers are really paying. Many consumers are willing to pay a premium for certain brands they perceive as more valuable.”
The brand may be the only valuable asset that is worth fighting for.
Hence the importance of protecting the brands filing a trademark with the United States Patent and Trademark Office in the USA or other jurisdictions such as the European Union.
Diane Von Furstenberg is very open about her company’s failure as luxury retail but is salvaging her brand, keeping it for the next generation.
She is recruiting her granddaughter as the keeper of the flame.
Marcos E. Garciaacosta is a Business, Trademark, Branding, and Intellectual Property Attorney offering personalized boutique-style services to his clients in Arizona and all over the world.
Attorney Marcos has filed more than a thousand trademarks with USPTO and many more in jurisdictions in Mexico, the European Union, Canada, Africa, China, and India.
Call (480) 324-6378 for a consultation.