Brand Finance issued its list of the Top 50 Most Valuable Apparel Brands, and topping the list for a second year is NIKE. Brand Finance used the same valuation methodology in its evaluation of the Top 500 Bank Brands. Rounding out the Top 10 Apparel Brands are ZARA, ADIDAS, H&M, CARTIER, LOUIS VUITTON, UNIQLO, HERMES, GUCCI, and ROLEX.
Examining the list reveals an important insight. The majority of luxury brands are associated with a well-known designer. PRADA was founded by Mario Prada in 1913. GUCCI was founded by Guccio Gucci in 1921. HERMES was founded by Thierry Hermes in 1837. LOUIS VUITTON was founded by Louis Vuitton in 1854. CARTIER was founded by Louis-Francois Cartier in 1847.
The non-luxury brands are not associated with designers and are all inherently distinctive marks. Nike was a goddess in Greek mythology who personified victory. Victory being suggestive of sports apparel. The North Face being suggestive of outdoor apparel. Under Armour is also suggestive of athletic apparel.
These non-luxury brands demonstrate the importance of starting the journey from trademark to well-known brand with a suggestive, arbitrary, or fanciful mark. The law rewards creativity, and that reward comes in part with a finding that the mark is conceptually strong. Conceptual strength forms the keystone upon which a commercially strong mark can be built.
Coming up with a suggestive, arbitrary, or fanciful mark that resonates positively with consumers is not easy. That is why working with a naming professional is important. While cost is a concern for startups, considering the cost of a rebrand not only in terms of money spent but also lost time puts into perspective the value you get with a professional namer. Because of their experience, professional namers have a better sense for what will resonate with consumers than the founder of a company who more often than not chooses a name that sounds goods or merely describes the goods or services, which is not where you want to be.