Rebranding is a wonderful tool used by companies and sports franchises all over the world. A fresh start can rejuvenate a franchise’s spirits and profits if done correctly. Or it can diminish a once powerful name.
Not more than a month has passed since the reigning Serie A champions Juventus F.C. announced their rebranding efforts and new logo.
Juventus has been an internationally recognized football club for over 100 years, dating back to the birth of the club in 1897.
Juventus announced their new branding strategy and logo on January 16th, 2017, at the first inaugural “Black and White and More” event in Milan.
Following the unveiling of their dramatic change, social media spewed out mixed opinions. Those in support of the newly announced logo would argue that the contemporary look brings more appeal to the club as a recognizable brand on and off the field.
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From a business standpoint, it appears Juventus has created a more marketable image for the football club. The Juventus “J” will become an institutionalized brand image for the club that will be recognizable on merchandise and social media.
The blowback from the sudden dramatic change is largely negative based on the social media reactions from Juventus supporters, and avid football fans.
Although Juventus has modified their logo in the past, this restyling effort has been met with painfully harsh criticism.
The Juventus fans who do not support this revolutionary look will attest that the change is too drastic and strays away from the classic shield look commonly recognized and firmly established amongst supporters.
However, those behind the creation of this marketable image will argue that the essential features such as the letter “J” for Juventus, the Scudetto or symbol of victory, and the black and white stripes of the playing jerseys have been incorporated into the development of this new image.
The magnitude of this rebranding effort has the potential of propelling Juventus into an even greater power in the football community.
This new image will create a modern identity for the club that will reflect the club’s history, values, as well as their cultural development towards the future.
The club is attempting to expand their fan base by promoting the “Juventus way” of living. They do not want to limit their market to zealous supporters of the club but instead establish their identity as a lifestyle brand.
Juventus’s strategy is to capture a part of the market that can grow dramatically, as they promote themselves as not only a prestigious football club, but also as a luxury entertainment commodity that promotes a distinct lifestyle.
Furthermore, the logo exemplifies Juventus’s philosophy to always strive for excellence. The style and presentation of the logo adapts to the modern market by adopting a simpler, sleeker design developed to appeal strongly to future football fans.
In addition, Juventus hopes the new logo will reach out and grab new consumers who may not be football fans but appreciate the style, fashion, and entertainment value represented by the club.
Looking towards the future, it will be interesting to see if this strategy will increase the club’s overall revenue. The current standing of their brand only accounts for 14.3% of total revenue.
Juventus has clearly taken a steep bet, but they have done their research and the evidence points towards a bright future for the club. However only time will tell.