Home Uncategorized 15 Companies That Made A Miraculous Comeback After Near Extinction

15 Companies That Made A Miraculous Comeback After Near Extinction

Loraine February 11, 2018
Attributed to fm.cnbc


14 Converse Shoes

Converse began it’s journey in 1917 as the Converse Rubber Corp. They marketed the first mass-produced basketball shoe. The company signed up Charles Hollis ‘Chuck’ Taylor, a basketball player that played for Columbus Commercials. At the time, he was a big star.

Taylor took to the streets with the shoes, promoting it at basketball clinics and schools. In 1932, Converse put his name on their shoes. This was the first co-branded shoe alliance in history.

It ruled the athletic market from its founding at the beginning of the 20th century until the 1970s, but then Nike and Adidas muscled their way in and Converse faded, filing for bankruptcy in 2001. The high top came in 1947 which was an invention by Taylor. It was advertised simplistically as a basketball shoe. It came in three colors and they were cheap. Converse made 750 million of these original shoes. They enjoyed a total of 80% of the market share.

In the 1970s, brands like Adidas and Nike came onto the scene. They swept up the market shares with their promise of a high quality shoe. They had cooler styles and all the big NBA stars were endorsing them. Stars that were in their prime as opposed to Check. In 1998, Converse suffered when their market share fell to 2.3%. They became pretty much extinct.

Athletes may have switched to Nike but cultural iconoclasts like Hunter S. Thompson and the Ramones embraced the idealism of the shoe company. Rock and roll was a major factor in the rebirth of Converse. Converse always had the secret ingredient to regenerate popularity.

Nike purchased Converse in 2003 for $305 million and used all it’s cultural might to bring Chuck Taylors back where they belonged. While Converse is no longer a popular basketball shoe, they are an epic piece of shoe history that people have embraced fully once again.

Attributed to wallpaperhdzone

15 Burberry Surviving the Storms of Fashion

Burberry is a fashion house that has been quite specific from the get-go. In a way, that was thought to be their downfall. Nobody in the fashion industry expected Burberry to make it through the tumultuous times in the modern fashion marketplace.

Two American executives were responsible for making the British brand hip again. Rose Marie Bravo and Angela Ahrendts were the powerful team that changed the whole game for Burberry. Bravo was the CEO of Burberry from 1997-2005. She brought in Christopher Bailey, a designer. Bailey has said that Apple as a brand is what inspired his Burberry concept.

He blended updates of the old traditional trench coat while the company got aggressive with their social media strategies. They made Burberry something everyone would want to have and wear. This resurrected their financials and they are back to being a fashion house that leads in trends.

Companies come and go, it’s true. Regardless of the millions of money in revenue they may accrue in a short time, it can easily go. Companies that were well established and tried to sit on being the leader without putting in the effort learned the hard way that you have to keep pushing forward. That really is the secret ingredient for all the above companies.

Regardless of what has happened, it’s never really over until the last penny has been sucked dry. Even then, there’s still hope if you have an innovative mind and a little luck on your side.