It is known in a small circle that I began collecting belt buckles a few years back after visiting the Jack Daniels distillery and working with the Jack Daniels brand. So, when I travel, I try to pick up a buckle. When I find myself at flee markets or garage sales, I pick up a buckle. When I’m shopping for anything else where a buckle might be available, I pick one up. It’s my latest obsession and I’m aware of it.
Recently I’ve become fascinated with Etsy and buying up-cycled belt buckles like this Lego one. Went over like a a charm at a speech for the Cleveland Institute of Arts a couple months back. And, buckles made from old beer cans have also fascinated me. But, as a business owner and advisor who helps brands manage and build equity — here’s my question.
What’s the difference between my Guinness belt buckle (which I’m sure pays no royalties to Diageo) but yet charges a premium ($30) for a belt buckle. And my Coca-Cola belt buckle (most valuable brand in the world by some who measure it) which I obtained for a meager price ($15) on Amazon.
See the curiosity?
If I was the entrepreneurial type I might start recycling Coke cans and creating belt buckles and then sell them on Etsy for twice the price being charged by the Coca-Cola company on Amazon. Is this a scalable idea? Nothing on Etsy is overly scalable, kind of why it’s at the center of the craft movement. So, maybe it doesn’t need to be scalable. Margin is what we’re seeking when we build brand equity. But, what does this mean to Diageo? Shouldn’t they be getting a royalty? Or Coca-Cola, shouldn’t they be getting more for their buckle?
Which brings about the larger question, why is a Guinness can (up-cycled) belt buckle selling for twice the price of a Coca-Cola belt buckle?
Could someone from Diageo or Coca-Cola please call me and explain.
Fanatical fan of both brands and wearer of belt buckles.