August 20, 2007
Company Naming Change Trends - The More Brands the Merrier
When a company expands its horizons, more often than not a merger or acquisition is the cause.
Last Thursday's post mentioned Rocky Shoes and Boots, Inc. literally getting "too big for its boots," changing its name to Rocky Brands, Inc. upon acquiring Michelin Footwear and Zumfoot.
More recently, Payless ShoeSource followed suit completing its acquisition of The Stride Rite Corporation and re-naming itself Collective Brands, Inc. as a result of the $900 million transaction to become the largest non-athletic footwear company in the Western Hemisphere.
"The new company name was chosen to communicate that together - collectively - these three units and their combined expertise and powerful brand portfolio create a stronger, expanded enterprise well positioned to serve a broadening base of global consumers."
Our proprietary Company Naming Changes research reveals that over a third of company name changes (34%) are initiated for this reason we like to refer to as "Dog Eat Dog." This trend continues to ring true in 2007.
If the shoe fits...
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