A theme of recent business press writing is brand-business turnarounds. For example, Barron’s, the financial newspaper, points to the successful turnaround at clothing retailer Abercrombie & Fitch. The Wall Street Journal reports on the underway turnaround at VF’s Vans, the sneaker brand-business.
One of my mentors, Chuck Young, once described brand growth to me using the metaphor of how trees grow.
Today let’s focus on ingredient branding, an effective growth strategy under the right conditions.
Standing still means shrinking. Brands must grow. And not only to grow the business. Brands must grow for the business to remain steady.
Most firms, and the managers who operate them, seek to grow. Indeed, a review of most CEO letters associated with annual reports, finds growth to be one of the two most frequently identified objectives (the other is cash flow). Growth, or at least well-managed, profitable growth, is important for many reasons. It makes the firm more valuable to shareholders. It makes the firm a more exciting place to work, which makes it easier to hire...
