Find companies you used to love that no longer exist.
- Some brands don’t last forever, even if their products are loved.
- A successful product isn’t always enough to keep your business running.
- Some companies are gone forever, while others like Hostess are making a comeback.
- This article is for those who want to learn more about the downfall of their favorite brand, and for entrepreneurs who are wondering how their business can avoid that fate.
mediaindonesia.net– As with everything in life, brands come and go. Hostess Brands has risen from the ashes to win in one of the most famous and recent examples, but other companies have disappeared forever, no matter how popular they once were. Other brands that were once huge retailers, such as Tower Records, eventually did not survive as physical stores and switched to e-commerce.
There are 11 ex-giants who closed the door, whether it’s a physical door or the entire business.
Beloved brand that went out of business
The airline was founded in 1927 and initially provided postal and passenger services between Florida and Cuba. From there the airline grew, reaching its peak in the late 1960s and early 1970s, when it carried over 6 million passengers annually to 86 different countries. By the 1980s, however, the airline’s profits had weakened and in 1991 the airline officially shut down. It re-emerged in 1997 but only lasted a year before closing again.
Oldsmobile, a General Motors brand, has produced more than 35 million cars in its 107-year history. Despite its popularity over the years, GM announced in 2000 that it was phasing out the brand and four years later the last Oldsmobile, an Alero, rolled off the factory assembly line.
Founded in 1879, Woolworths has grown into the world’s largest department store chain in 1979. As the company expanded and added specialty retail stores, Woolworths department stores began to experience difficulties. The chain first closed 400 branches in 1993. The rest continued after four years. But in Mexico you can still see the famous 5,000 won store. In 1956, Woolworths opened several Mexican branches and sold the Mexican branch to its biggest competitor, Del Sol, after the company closed its US stores.
Palm Computing’s lifespan wasn’t as long as other iconic brands, but it was just as impressive. Founded in 1992, the company began full-scale operations four years later with the introduction of the PalmPilot. The mobile information terminal became a hit in a blink of an eye and was acquired by 3Com in 1997. Three years later, Palm was released with a starting valuation of $ 53 billion. However, with the advent of smartphones in the mid-2000s, consumer interest in Palm diminished. After announcing losses of $22 million in the first quarter of 2010, the company was acquired by HP for $1.2 billion. At that time, all Palm devices were renamed HP.
Trans World Airlines, or TWA, was born in 1930 from the merger of Western Air Express and Transcontinental Air Transport. The airline flourished in the 1930s and 1940s under the leadership of billionaire Howard Hughes. Its demise dates back to the 1980s, when it was taken over by Carl Icahn, who insisted the company go bankrupt. The move resulted in the company being in debt and eventually TWA filing for bankruptcy in both 1992 and 1995. The TWA brand was completely closed when it was acquired by American Airlines in 2001.
Founded in Cincinnati by the Albert, Philip and Joseph Steiner brothers in 1947, Kenner Products was one of the earliest and best-known toy companies in the manufacture of bubblematic guns and easy bake ovens. The company was acquired by General Mills in 1967, but thanks to the success of the Star Wars toy series, the brand has moved forward and profits surged in the 1970s and 1980s. The brand was acquired by Tonka in 1987, and Tonka was acquired by Hasbro in 1991. In the following years, the Kenner brand was closed in the lines of Hasbro Toys and 2000, when the Cincinnati’s machining was officially closed, the name was well cleaned.
In 1960 the first record of the flat tower was opened in Sacramento, California. In the coming years, the series of music stores quickly increases, spreads throughout the state and the remaining US. In the mid-90s there are more than 200 tower recorders worldwide, which produce $ 1 billion annually. But as large retailers, such as the best shopping and Walmart, start selling music and downloading music, the stock decreased the secondary record. The company was first nominated for bankruptcy and then again in 2006, eventually members the retail trade and a physical store also quiet.
Borders Bookstores chain was founded in 1971 in Ann Arbor, Michigan. Over the years, the company has grown to more than 650 stores in the United States and abroad. Despite its popularity, the company’s profits began to decline in 2001, and in 2010, when e-books were at their peak, Border lost $185 million annually. The following year, Borders filed for bankruptcy and began liquidation proceedings. The chain eventually closed all stores and sold its website to compete with Barnes & Noble.
Henri Bendel, a luxury brand best known for handbags and shoes, was founded in 1895. In 1913, the brand opened its flagship store on Fifth Avenue in New York City. In 1985, L Brands acquired the company and expanded to 11 more states. However, in 2019, L Brands decided to close the brand’s website and other stores due to slowing sales.
Peer import 1
Founded in 1962, Pier 1 Imports specializes in household items such as furniture and ornaments. Before the information in other states, the company began with the debut in San Mto, California. Pier 1 stayed popular for many years, but he finally started to fight with the shop competition as Amazon, Walmart and TJ Mexx. At the beginning of 2020, the company announced that after an unsuccessful attempt to create a buyer, the remaining closed-ended loading due to the decline in sales. In October, the company returned as an online store again, but its shops are closed.
Right of the game.
The sports authority was a sportsman whose altitude, Americans at a point in more than 400 shops, the company, the largest retailer for sports goods. But sports authorities are struggling to keep up with sales amid competition from other retailers. The company filed for bankruptcy in 2016 and closed the rest of its stores.
How to build a brand while maintaining power?
Of course, many beloved brands go out of business to reappear later. Hostess Brands is a good example of this. After going bankrupt in 2012, the company went public again in 2016.
Your business doesn’t have to go through these kinds of ups and downs. Here are some tips for creating a brand with truly lasting power.
- It is elastic. Invalid trademarks cannot stand the test of time. Whenever a customer calls the company, they must provide the customer with the same high-quality experience.
- Listen to your customers. Customers and companies that don’t listen to what they want will fail. Stay in close contact with your customers to understand what they are looking for. Use techniques like social listening and customer surveys to gather feedback and ideas about what your customers want.
- We strive to be the best. You should never stop working to be the best in your field. Think about what sets your brand apart and get started.