Chanel Challenges ‘MIMICOCO’ Trademark in Expanding Luxury Goods Market
Nov/25/2024
On November 22, Chanel Inc. filed an opposition against JME & Co. NYC, LLC’s trademark 'MIMICOCO,' which spans a broad array of personal care products, cosmetics, lighting fixtures, and tech accessories. Chanel’s move reflects its focus on protecting its brand identity in the competitive luxury goods market, where the company reached record revenues of $17.2 billion in 2022. Chanel offers a diverse portfolio of high-end fashion, beauty, and accessory products, contributing to the global luxury goods market valued at $473.9 billion in 2024. Notably, the largest segment, luxury watches and jewelry, accounts for $157.6 billion, with China leading revenue generation at $102 billion. Online sales are expected to contribute 12.3% of total market revenue by 2024, underscoring the evolving retail landscape. The visualization below provides details of the ‘MIMICOCO’ trademark alongside the value of the outlet personal luxury goods market worldwide from 2015 to 2023 (in billion euros), emphasizing the sector’s steady growth trajectory.
