The notion of heritage branding orientation is introduced and explicated. Heritage branding orientation is designated as embracing both product and corporate brands and differs from corporate heritage brand orientation which has an explicit corporate focus. Empirical insights are drawn from an in-depth and longitudinal case study of Ach. Brito, a celebrated Portuguese manufacturer of soaps and toiletries. This study shows how, by the pursuance of a strategy derived from a heritage branding orientation, Ach. Brito - after a prolonged period of decline - achieved a dramatic strategic turnaround. The findings reveal how institutional heritage can be a strategic resource via its adoption and activation at both the product and corporate levels. Moreover, the study explains how the bi-lateral interplay between product and corporate brand levels can be mutually reinforcing. In instrumental terms, the study demonstrates how heritage can be activated and articulated in different ways. For instance, it can reposition both product and/or corporate brands; it can be meaningfully informed by product brand heritage and shape corporate heritage and can be of strategic importance to both medium-sized and small enterprises.