Heritage brands, as intangible and valuable business assets, not only provide competitive advantages but also embody the history, values, and cultural identity of nations. Relying on their legacy and extensive experience, these brands have successfully garnered customer trust and loyalty; however, like any commercial entity, they follow a distinct lifecycle and may face decline or extinction if they fail to adapt to market shifts and new generations. This study aims to investigate the lifecycle of heritage brands from birth to decline and analyze indigenous strategies for Iranian businesses through a systematic review methodology. Relevant scientific articles from 2000 to 2025 were screened and analyzed from reputable international databases using appropriate inclusion and exclusion criteria. Findings reveal that heritage brands persist across four key dimensions: preserving legacy and authenticity, customer experience and emotional engagement, socio-cultural values, and economic benefits. Nonetheless, to prevent decline, the adoption of smart strategies, particularly leveraging cutting-edge technologies such as digitalization, artificial intelligence, augmented/virtual reality, and the metaverse is deemed essential. In this context, the present research introduces the theme of smart monitoring and revitalization of heritage brands using advanced technologies, proposing a three-layered framework for their analysis and evaluation. This framework is designed based on key indicators, including lifecycle monitoring, smart forecasting, intergenerational transfer, brand narrative revitalization, technology-driven localization, and cultural-economic value addition. For each dimension, measurable operational indicators are defined, which can be tracked using tools like big data analytics, machine learning algorithms, and interactive technologies. Utilizing these indicators not only enables the identification of strengths and weaknesses in Iranian brands but also assists managers in adopting data- and technology-driven strategies for revitalization and global expansion. These strategies ensure fidelity to the past while guaranteeing the continuity and intergenerational transmission of the brand's heritage.