Not enough people think of brand names as financial assets, with independent worth, such as can be sold or licensed separate from a business. But they are and should be valued as such.
A Name Is An Asset
This #tellthetruths video shares a great example of a name that will now live on after the brand it started with has died. Do you have any similar examples?
This video originally appeared in LinkedIn
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TRANSCRIPT:
Hey guys, it’s Rebeca Arbona with BrandTrue, and today, I want to talk about the fact that a name is an asset. You know that I talk about names. I think names are wonderful, but sometimes people don’t value names as much. They don’t realize the extent to which a name is a brand’s asset- is one of a brand’s assets. And there was a wonderful example of this recently, which is that Overstock.com purchased the name Bed Bath & Beyond.
So, I’ve always said Bed Bath & Beyond was a wonderful name because of its alliteration and memorability. But let’s face it, they didn’t have a great business model, and they recently went belly up. So, what was fascinating was not long after they went, Overstock.com, which has a very vigorous business but has outgrown their name, they’re about so much more than just overstock, and so that name was holding them back. They purchased Bed Bath & Beyond’s name. It’s the name of a defunct chain of brick and mortar stores. They took it for an online business, but it was just a great asset. It wasn’t worth a ton, but it wasn’t worth nothing. They paid like $20 or $30 million dollars for it, and it’s lifting their business, even as that business went away. I find that fascinating proof that a name is an asset, and I’m curious if you guys have any other examples of these. Let me know. Thanks. Bye!
