If there is any one single characteristic and attribute of a brand that provides sustainable competitive advantage, it is heritage. We all know, buy, and experience brands that have a great heritage. For some of us, it is Mercedes, Philips or Disney. For others, it is McDonalds, Heineken or Gucci. What makes these brands great, what they all have in common, is that they have had the time to build a meaningful and relevant past — a heritage.