Oscar Wilde got it wrong. Imitation isn’t the sincerest form of flattery – at least when it comes to your business partners. When your supplier starts to make a knock-off version of your flagship product, the betrayal can hurt almost as much as the lost revenue.
For a growing number of businesses, having somebody copy their products can cause reputational damage and potentially cost their bottom line. Just ask Brompton Bikes, whose managing director, Will Butler-Adams, recently spoke of its “war of attrition” against copycats producing cheaper lookalikes of its famous folding bicycles. Or maybe James Dyson, of vacuum cleaner fame, who has condemned the “treachery” of brands that try to replicate devices that are the result of years of innovation.
