Worldwide Trademarks | Comprehensive Real-time Monitoring for Your Brand

USOPC Sues Prime Hydration Over Trademark Infringement

Jul/26/2024

Prime Hydration is facing a lawsuit from the US Olympic and Paralympic Committee (USOPC) for allegedly misappropriating its trademarked phrases and symbols. The dispute centers on a limited edition Prime drink, created in collaboration with Olympic gold medalist Kevin Durant, which has been criticized for packaging that could cause consumer confusion and deception. After an initial cease and desist request sent on July 10 was ignored, the USOPC escalated to legal action to halt further infringement and dissociate itself from Prime Hydration. The USOPC's complaint highlights the unauthorized use of terms like "Going for Gold," "Team USA," "Olympian," and "Olympic," as well as the Olympic rings logo. The committee accuses Prime Hydration of willfully and maliciously trading on the goodwill of the USOPC and the International Olympic Committee (IOC). Backed by Coca-Cola, the USOPC seeks to protect its trademarks and prevent misleading competition. Although Prime has removed the contentious drink from its website, the lawsuit remains unresolved, with no additional comments from either side. Tag cloud below shows a list of pending trademarks by Prime Hydration and the US Olympic and Paralympic Committee.

Nike's Latest Trademark Filings and Opposition Actions

Jul/22/2024

On July 18, Nike Inc. filed a new trademark in the US for 'AIR' specifically for footwear. This trademark also includes a graphical component that illustrates the design of the new Nike AIR footwear line. Just a day later, on July 19, Nike filed an opposition against LGND U, LLC, over their application for the trademark 'JUST PAY IT', which was submitted in August 2023 for products such as towels and throw blankets. Nike argues that 'JUST PAY IT' closely resembles its iconic 'JUST DO IT' slogan, potentially causing consumer confusion. The visualization below provides detailed information about the new 'AIR' trademark and the opposed 'JUST PAY IT' trademark.

Tesla's Profit Margins Suffer Amid Price Cuts and Discount Pressures

Jul/25/2024

Tesla's earnings were nearly halved as discounts and price cuts strained the electric carmaker’s profit margins. CEO Elon Musk attributed the decline to competitive price reductions from rivals, complicating Tesla's market position. Despite these challenges, Tesla is pushing forward with ambitious plans for robotaxis, AI, and humanoid robots, aiming to start production of the next-generation Roadster sports car next year. Musk also anticipates deploying "several thousand" Optimus robots in Tesla factories by next year and foresees "unsupervised" self-driving software by 2025. The company's total sales increased by 2% to $25.5 billion in the latest quarter, exceeding Wall Street's expectation of $24.8 billion, yet profits plunged 45% to $1.48 billion, causing a 6.9% drop in Tesla’s shares during out-of-hours trading. Musk dismissed the discounting issue as short-term. Recently, Musk has expressed political support for Donald Trump and announced relocating Tesla's headquarters to Texas, following the path of SpaceX and X (formerly Twitter). Despite the recent financial strain, analysts like Dan Ives from Wedbush remain optimistic, predicting Tesla's production will reach an annual rate of 2 million vehicles in the coming quarters. As the following chart shows, after peaking at almost 30 percent two years ago, Tesla's profit margin fell below 20 percent at the beginning of last year, then below 15 percent in the second quarter of 2024 (14.6 percent). This is the lowest profit margin recorded by the company in over five years.

VF Corp. Sells Supreme Brand to EssilorLuxottica for $1.5 Billion

Jul/19/2024

VF Corp. announced on Wednesday that it is selling its Supreme brand to EssilorLuxottica for $1.5 billion, with the deal expected to close by the end of 2024. Supreme, which generated $538 million in revenue during VF’s latest fiscal year, is anticipated to reduce VF’s earnings per share in fiscal 2025. VF, which also owns brands like Vans, Timberland, and The North Face, previously conducted a strategic review of its brand portfolio, leading to the decision to sell Supreme. VF acquired Supreme in 2020 for about $2.1 billion, a deal that David Swartz of Morningstar Research Services criticized as overvalued, negatively impacting VF’s balance sheet. This sale will help VF pay down debt and refocus on its core brands. Analysts view the deal as a mixed bag; while it offers VF much-needed balance sheet flexibility, it also means parting with its most profitable brand. EssilorLuxottica, known for owning Sunglass Hut and Ray-Ban, sees significant opportunity in integrating Supreme into its portfolio, aiming to leverage its expertise and operating platform to enhance Supreme’s market position. Tag cloud below shows the list of textual registered and pending trademarks by EssilorLuxottica with related classes.