Over the last couple of years the revival of Ghost or Orphan Brands has been an issue on and off, like Bromo Seltzer. The reasoning behind that phenomenon is the high cost of establishing a new brand.
But brand revivals are not a sure bet. Latest proof is the slow second death of Maybach. The FAZ has a report here (in German). Even with all the resources and sales power of Daimler the reintroduction of Maybach seems to fail.
That is one reason, why in the past we often declined to participate in brand revivals. Buying a license means, you are buying access to a customer base. And if that base is too old and small, the license has no value.
Brand recognition alone does not make a valuable brand.