Icons in times of change

How nostalgia and innovation are reinventing brands

The renaissance of iconic brands shows how powerful the combination of tradition and innovation can be. Nostalgia serves as an emotional anchor that evokes memories of times gone by and creates trust at the same time. Some brands are like time capsules – they remind us of the past, of special moments or stories from our family. Their ability to outlast generations lies in the art of preserving core values while keeping up with the times. This allows these brands to remain relevant without losing their identity. A recipe for success that creates trust and awakens nostalgia.

Successful comeback

Brands such as Renault, Mini and Fiat show how the concept of “nostalgia” can be used successfully by preserving their historic charm while adding modern touches. The Renault R4, for example, which was only relaunched this year, combines classic design with a sustainable concept and appeals to both older customers and younger retro enthusiasts. One of the best examples of a successful comeback that shows how a brand can redefine itself without neglecting its roots is Polaroid. Once synonymous with instant photography, Polaroid has successfully repositioned itself by developing innovative cameras that combine the charm of old technology with the demands and style of the digital world. Brands such as Levi’s, Barbie and Old Spice, on the other hand, are not focusing on new products, but rather on a combination of modern storytelling and a new image. Old Spice brought the classic “old man scent” into the 21st century through humorous, modern advertising and innovative product lines, while Barbie regained her relevance in pop culture through diversity and inclusion. The Birkenstock brand is already legendary for its successful balancing act between the decades-long loyalty of health-conscious consumers on the one hand and its cult status among supermodels and trendsetters on the other.

Cornerstone of iconic brand presence

But what are the most important aspects in bringing brands back to life? The first important success factor is the balance between tradition and innovation. While the nostalgia factor provides familiarity and creates emotional attachment, modern designs and technological innovations meet current consumer expectations. Consumers expect an authentic connection to the brand’s history while enjoying modern product features and engaging digital experiences. This approach allows brands to appeal to both older customers and younger, trend-conscious consumers. Reebok, for example, has made a conscious decision to return to the basketball market and relaunch updates to iconic models such as the Answer III and Shaq Attaq. Renault not only updated the design of the R4, but also brought its entire positioning as an e-city car into the modern age. In addition, the campaign was not only played on all media channels, but also made accessible to the young target group as the first virtually staged television advertisement. An important factor is therefore also the implementation of individualized digital touchpoints, which at best can also be transferred to the physical brand presence and thus reach different target groups.

The second important factor is authentic and creative storytelling – New. Surprising. Ironic. Entertaining. Because brands with a history have experienced ups and downs; making use of these and incorporating them creatively is an art. Not only are consumers who have already experienced a previous wave of success picked up – new consumers also experience a little insight into the history while a new positioning is sought. Genuine cult brands often have a small dose of self-irony and are aware of the role and image that has been and is attributed to them – and thus reinvent themselves time and again.

However, the most important thing when reviving iconic brands is the community. On the one hand, these are other brands with which you cooperate in order to create and position innovative products, and on the other hand, the consumers, the target group that you want to address and retain. LEGO, Marvel and Mattel have successfully proven in their history that innovative products, strong brand collaborations and new target groups can contribute significantly to revitalization and to cementing cult status. From children to adults, from comics to film productions, from toys to symbols of feminism. What becomes clear time and again is that although digital touchpoints, innovative storylines and stringent communication strategies are essential, the most important community experiences are created offline. Examples of this include Barbie pop-ups at brands such as Zara, Lush and Stanley. Reebok, on the other hand, has signed young basketball talents from both the NBA and the WNBA, among others, and is using its global reach as well as tournaments and events to target a new community with its core values and performance products. The latest example of community involvement in revitalizing iconic brands is the Universal Genève brand, led by Breitling CEO Georges Kern. Collaboration and feedback with the collector community is at the heart of the strategy, which will start with pre-launch events. Community means real connection with real people. This is not a nice to have, but an important pillar of any brand strategy – all the more so if you want to redefine and reposition a brand.

Those who manage to interweave an authentic brand story with modern innovations and create a genuine connection with the community will be able to attract new target groups while retaining existing loyal customers.

Published in HORIZONT.

About the author
Torsten Dietz
CO-CEO
LIGANOVA

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