Rebranding at Reebok Essay

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The significance of rebranding in a stiffly competitive environment cannot be overemphasized. Organizations often undergo a change in logo, product line, packaging, advertising and other aspects of marketing with the aim of differentiating themselves from competitors, restoring image, and regaining lost market share (Khaund, 2014). Rebranding may also be informed by the need to adapt to change and remain relevant as well as reflect a shift in business strategy, focus, and target market. Reebok, a multinational fitness and sportswear company, recently underwent rebranding to reflect its shift of focus to the fitness industry. Focusing on the company, this paper describes the previous image as a brand, the reason for rebranding, as well as the rebranding undertaken and its effectiveness.



Founded in the 1 ate 1890s, Reebok is one of the largest sportswear companies in the world. With its headquarters in Canton, Massachusetts, the company designs, manufactures, and markets sportswear and fitness products throughout the world. The company is particularly involved in producing athletic footwear, fitness apparel and accessories, as well as training equipment. Over the years, the company has built a strong brand presence in not only the U.S., but also worldwide. Today, Reebok is one of the largest sportswear companies in the world. Historically, the company has had significant sponsorships in various segments of the multibillion sports industry, including American football, baseball, basketball, cricket, boxing, and athletics.

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This indicates the strength of the brand.



Though Reebok has from time to time engaged in rebranding in the past, the most recent rebranding was in 2014. The rebranding, which was the second significant rebranding in the company's more than a century history, specifically involved replacing the previous vector logo with the delta symbol (Khaund, 2014). It was intended to restore the company's diminishing market share in the rigorously competitive sportswear industry. In 2005, Reebok was acquired by Adidas in an attempt to counter increased competitive pressure from Nike. Though the acquisition seemed successful in the first few months, Reebok experienced a persistent decline in revenue after 2006 (Khaund, 2014). In the succeeding six years, the company would experience a number of unfortunate events, notably accusations of misleading advertisements and financial fraud, which further deteriorated its performance (Khaund, 2014). To regain the brand's lost glory, Adidas decided to rebrand it by shifting its focus from athletics and sports to fitness. This rapidly growing segment has largely been ignored by most of its competitors.



In February 2014, Reebok unveiled its new logo, which resembles a delta as shown in figure 1 below (Khaund, 2014). The new logo symbolizes the transformation fitness can….....

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References


Gianatasio, D. (2015). Reebok is quietly emerging as a challenger brand to contend with. Retrieved 20 October 2016 from: http://www.adweek.com/news/advertising- branding/reebok-quietly-emerging-challenger-brand-contend-163074

Khaund, G. (2014). Reebok's rebranding -- a comprehensive analysis. Retrieved 20 October 2016 from: http://www.mbaskool.com/business-articles/marketing/9995-reeboks- rebranding-a-comprehensive-analysis.html

Norman, A. (2014). Reebok rebrand and 6 months on. Retrieved 20 October 2016 from: https://www.brandworkz.com/branding-2/reebok-rebrand-6-months/

Reebok (2014). Reebok signals change with launch of new brand mark. Retrieved 20 October 2016 from: http://news.reebok.com/global/latest-news/reebok-signals-change-with- launch-of-new-brand-mark/s/ff399034-0aac-4263-99ed-6104ef4eda20

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