Changing a brand name can salvage the reputation of crisis-ridden companies
From Leighton Holdings to the Weinstein Company, when an organisation goes through a major crisis, a total rebrand is often the only option. Here, Tony Jaques looks at examples from some of the comms world’s biggest disasters.
All of Hollywood was eagerly waiting to see who would buy and rename the scandal-plagued Weinstein Company. Now it seems there will be an auction for the assets of the bankrupt enterprise. While the Weinstein name is sure to disappear, will erasing a poisoned brand be enough to protect the movies?
In responding to a reputational crisis, adopting a new name can be an effective strategy. Consider the iconic Australian construction company Leightons which was renamed CIMIC by its new Spanish owners to distance themselves from past corruption allegations.
…and when the Big Four change their names after the Financial Services Royal Commission?
If the name changes but nothing else does….expect the next brand image ruining event to be just around the corner. Lipstick and pigs and all that….