Luxury fashion brands such as Louis Vuitton and Bulgari have cultivated brand names that have transcended generations and remained relatively immune to the volatility of trends. The timeliness of such brands comes from the brand equity that has been developed through a carefully crafted purpose-driven approach and fiercely protected by trademark law, both domestically and abroad.
As a result, a growing number of iconic brands are capitalizing on their brand recognition and brand loyalty and thus, have entered the luxury travel and hospitality space, as a brand extension. Companies are beginning to leverage their trademarks in ways that are outside the box, hoping to have their pristine and prestigious brand names lead the way into areas traditionally outside their expertise. Some expand into new product niches to transform a luxury brand into a global lifestyle powerhouse, while others are finding new areas of growth such as the rapidly expanding luxury travel market, which has seen exponential growth in the past several years due to the experiential travel preferences of the millennial demographic.
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