From Google to Nike, these big brands changed names before Facebook became Meta

SUMMARY

Several companies have undergone rebranding exercises for internal restructuring like Facebook. However, at times firms shed their names to shake off bad publicity, scandals or negative associations.

By CNBCTV18.comOct 31, 2021 10:49:52 AM IST (Published)

Facebook has changed its name to Meta Platforms. However, dramatic rebranding is not new in the corporate world. Many major companies have undergone such transformations for a host of reasons.

Facebook said the rebranding would better "encompass" all its activities as the social media giant broadens its reach in areas like virtual reality. The name change applies only to the parent company and not to individual platforms like Facebook, Instagram, Oculus, and Whatsapp.

Several companies have undergone such rebranding exercises for internal restructuring to effectively represent their range of products and services. However, at times firms shed their names to shake off bad publicity, scandals, or negative associations. Long-term business failure or change in cultural values also precipitates a name change. In some cases, companies change their name to avoid legal hassles like trademark violations.Here’s a list of some of the biggest brands that have changed their names in the past:

Google: In 2015, Google restructured its company under a new holding company called Alphabet. Google remained as an independent entity under the parent firm, while Alphabet Inc. replaced Google Inc on the stock exchanges. Sundar Pichai was named the CEO of Google, while Larry Page became the then CEO of Alphabet. The move followed complaints from investors that Google’s forays outside its core search business weren't transparent enough. Also, the company faced antitrust concerns over its advertising business.

Nissan: The Japanese automaker nixed one of its most popular car brands Datsun in 1981 to unify the company’s global image. Estimates suggest getting rid of the Datsun brand cost Nissan a fortune.

Philip Morris: Philip Morris, the maker of Marlboro, changed its name to Altria Group in 2001. Researchers at the University of California said the company found its name too synonymous with the tainted tobacco and attempted to insulate other brands like Kraft from such negative associations through the rebranding.

Accenture: Before 2001, Accenture was known as Andersen Consulting. The company changed its name after severing ties with Andersen Worldwide and Arthur Andersen.

WWE: The famous World Wrestling Federation became World Wrestling Entertainment or WWE in 2002 after a conflict with the World Wildlife Fund over the acronym WWF.

LG Electronics: Korea’s electronic major LG started out as Lucky, a company that made cosmetics and plastics, in 1947. It later added another brand selling electronics called GoldStar. In 1995, the company rebranded as LG and adopted the slogan, “Life's Good” with the same initials.

Blackberry: In 1984, Research in Motion was founded as a wireless data technology developer in North America. In 2013, it changed its name to BlackBerry, its most popular smartphone device, with the hope to revive the declining brand.

Sony: Sony was established in 1946 as a radio repair shop with the name Tokyo Tsushin Kogyo. The company made Japan’s first transistor radio in 1955, followed by the world’s first transistor television in 1960. The company was named Sony Corporation in 1958.

Nike: Known as Blue Ribbon Sports, Nike was originally a distributor for Japanese shoemaker Onitsuka Tiger. It later changed its name to Nike, which is the name of the Greek goddess of victory.

Subway: Dr Peter Buck and Fred DeLuca started a sandwich business in 1965 with the name Pete’s Super Submarines in Bridgeport, Connecticut. The company changed its name to Doctor’s Associates a year later. Finally, the co-founders named the business Subway.