Staying up-to-date with market trend is what companies should aspire to do. Burberry, which has a rich history of 150 years, has all the more reason to be in touch with the millennial generation. Its rebranding campaign is dubbed one of the most successful ones in recent times.
Not long ago, the luxury brand was associated with football gangsters in the UK, but the negative image was soon shed off when a new creative director was appointed to overhaul the brand image.
Modern touches have been made to its iconic trench coats and young star like Emma Watson was hired to endorse the label for an updated appeal. Burberry had seen an increase in sales after the major brand transformation.
Then again, not all rebranding efforts end up being successful because no matter how much meticulous research you do on your target consumers or how much of a calculated risk you carry out, it’s going to be either a hit or a miss. Rebranding can be a risky business, which brings us to the next point.