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What about football clubs? Move stadium, change owners, full team changes every X years, kit changes, logo occasionally changes, fans remain religiously loyal.
t.o.-
Football teams almost never change the colour of their home kits - suspect this would be a step too far for most fans.
Stadium moves also definitely have the potential to ruin fan loyalty, especially if the new one is too far away - see Wimbledon/MK Dons.
When US sports teams move to entirely different states, do they keep the existing fans or just try and pick up new ones?
lemonade
If it is not the same people or products it is not the same brand.
Heritage is more than a decal.