Can a dead brand live again?
Depends on how it
died....
A fascinating article. It’s long.
It’s in the NY TIMES Magazine. But, read it through. There are some bright
people running this
company:
The coffee brand? Perhaps you recall its advertising slogan: “Fill it to the rim — with Brim!” Those ads haven’t been shown in years, and Brim itself has been off retail shelves since the 1990s. Yet depending on how old you are, there’s a fair chance that there’s some echo of the Brim brand in your brain. That’s no surprise, given that from 1961 to around 1995, General Foods spent tens, if not hundreds, of millions of dollars to get it there.
But General Foods disappeared into the conglomerate now known as Altria, which also acquired Kraft, maker of Maxwell House. With much smaller sales than that megabrand, Brim soon disappeared — except, perhaps, for a vague idea of Brim that lingered, and lingers even now, in the minds of millions of consumers.
What’s that worth? A small company in Chicago, called River West Brands, figures that it’s definitely worth something, and possibly quite a lot. The firm did its own research a year or so ago and claims that among people over the age of 25, Brim had 92 percent “aided national awareness.” What this means is that if you ask people anywhere in America if they have ever heard of Brim, about 9 out of 10 will say yes. If true, that’s potentially a big deal. Building that level of recognition for a new brand of coffee — or anything else — from scratch would involve an astronomical amount of money, a great deal of time, or both…
One is that for the most part the equity — the idea — is the only thing the company is interested in owning. River West acquires brands when the products themselves are dead, not merely ailing. Aside from Brim, the brands it acquired in the last few years include Underalls, Salon Selectives, Nuprin and the game maker Coleco, among others. “In most cases we’re dealing with a brand that only exists as intellectual property,” says Paul Earle, River West’s founder. “There’s no retail presence, no product, no distribution, no trucks, no plants. Nothing. All that exists is memory. We’re taking consumers’ memories and starting entire businesses.”
The other interesting thing is that when Earle talks about consumer memory, he is factoring in something curious: the faultiness of consumer memory. There is opportunity, he says, not just in what we remember but also in what we misremember.
River West is a young company, and few of its ideas have been directly tested in the marketplace. The revival of Brim, for instance, has yet to crystallize into a plan with real manufacturing and distribution partners. But River West is starting to bring some familiar names back into the consumer realm. It is thanks to River West that you can buy Nuprin again at CVS. The firm has also played a role in the return of Eagle Snacks to some grocery-store aisles. In late January, Drugstore.com began accepting orders for Salon Selectives, which is also making its way into 10,000 stores, including every Rite Aid in America and grocery chains like Winn-Dixie and Pathmark. And by way of a deal with River West, Phantom, a Canadian hosiery manufacturer, is pushing a new version of Underalls to department-store and boutique clients in the U.S.
Unlike patent trolls, the folks at River West are taking a blast from the past and utilizing the persistence of memory to build anew. Proust would be proud.
The coffee brand? Perhaps you recall its advertising slogan: “Fill it to the rim — with Brim!” Those ads haven’t been shown in years, and Brim itself has been off retail shelves since the 1990s. Yet depending on how old you are, there’s a fair chance that there’s some echo of the Brim brand in your brain. That’s no surprise, given that from 1961 to around 1995, General Foods spent tens, if not hundreds, of millions of dollars to get it there.
But General Foods disappeared into the conglomerate now known as Altria, which also acquired Kraft, maker of Maxwell House. With much smaller sales than that megabrand, Brim soon disappeared — except, perhaps, for a vague idea of Brim that lingered, and lingers even now, in the minds of millions of consumers.
What’s that worth? A small company in Chicago, called River West Brands, figures that it’s definitely worth something, and possibly quite a lot. The firm did its own research a year or so ago and claims that among people over the age of 25, Brim had 92 percent “aided national awareness.” What this means is that if you ask people anywhere in America if they have ever heard of Brim, about 9 out of 10 will say yes. If true, that’s potentially a big deal. Building that level of recognition for a new brand of coffee — or anything else — from scratch would involve an astronomical amount of money, a great deal of time, or both…
One is that for the most part the equity — the idea — is the only thing the company is interested in owning. River West acquires brands when the products themselves are dead, not merely ailing. Aside from Brim, the brands it acquired in the last few years include Underalls, Salon Selectives, Nuprin and the game maker Coleco, among others. “In most cases we’re dealing with a brand that only exists as intellectual property,” says Paul Earle, River West’s founder. “There’s no retail presence, no product, no distribution, no trucks, no plants. Nothing. All that exists is memory. We’re taking consumers’ memories and starting entire businesses.”
The other interesting thing is that when Earle talks about consumer memory, he is factoring in something curious: the faultiness of consumer memory. There is opportunity, he says, not just in what we remember but also in what we misremember.
River West is a young company, and few of its ideas have been directly tested in the marketplace. The revival of Brim, for instance, has yet to crystallize into a plan with real manufacturing and distribution partners. But River West is starting to bring some familiar names back into the consumer realm. It is thanks to River West that you can buy Nuprin again at CVS. The firm has also played a role in the return of Eagle Snacks to some grocery-store aisles. In late January, Drugstore.com began accepting orders for Salon Selectives, which is also making its way into 10,000 stores, including every Rite Aid in America and grocery chains like Winn-Dixie and Pathmark. And by way of a deal with River West, Phantom, a Canadian hosiery manufacturer, is pushing a new version of Underalls to department-store and boutique clients in the U.S.
Unlike patent trolls, the folks at River West are taking a blast from the past and utilizing the persistence of memory to build anew. Proust would be proud.
Posted: Sun - May 18, 2008 at 11:26 AM