This is a case of stream-lining a logo too much. The brand is well known, but the logo is a major reason most people are initially drawn to this product. Starbucks touts this as a way to incorporate all of their products under one brand, but the Starbucks name is just as powerful as the logo art. To take the Corporate name away from the mermaid art is very risky. I'm not sure if this works for me, a long-term fan, but it may be a sign of how other corporate brands follow suit.
Two tragic examples of branding changes that people rejected recently were The Gap from last year: http://tinyurl.com/2eg6ux5, and the orange juice company, Tropicana back in 2009: http://tinyurl.com/qfucjq.
The corporation is often chided as being too dominant and, well corporate. This logo literally solidifies this opinion and is unwise.
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