Tom Dougherty, CEO – Stealing Share
14 November 2018
A company changes its name to RTW Retailwinds?
The women’s apparel retailer, New York & Company, changes its name to RTW Retailwinds. And I think the new name sucks.
Greg Scott, Chief Executive Officer, said of the name change, “Our company has evolved into one of the largest specialty women’s omni-channel and digitally enabled retailers with a powerful multi-brand lifestyle platform poised for growth. (RTW Retailwinds) reflects our vision to maximize the power of our platform to create destination celebrity and lifestyle brand assortments across categories and channels. We move forward strongly positioned to continue our expansion of NY & Co, expanding celebrity brands with the upcoming launch of Kate Hudson and entering intimate apparel – a core competency of our team. We are excited about our future and ability to continue to drive value creation for all RTW shareholders.”
You know what is missing from that statement? I mean beyond the glaring lack of simplicity? Anything having to do with making it a better choice for customers. Also, I don’t get how you can seriously say you are “entering intimate apparel,” then refer to that as core competency. But that’s beside the point.
“RTW Retailwinds just sucks and reeks of the tired excuse of ‘we are doing this to create better shareholder value.’ I call bullshit on that one.”
What logic dictates RTW Retailwinds?
I understand many name changes are completed for operational reasons. I assume RTW Retailwinds will continue expanding its brand footprint. Changing the corporate name to something more nebulous gives the illusion that New York & Company wasn’t steering the ship. (Though, for all intents and purposes, it still will be). But why do holding companies change their name from something with brand cache and, more importantly, meaning to something so innocuous?
For all the things I think they do horribly, Yum Brands at least tried to create a holding company name that had some meaning. Yum would, after all, like patrons leaving their restaurants with Yum(my) on their minds.
RTW Retailwinds just sucks and reeks of the tired excuse of “we are doing this to create better shareholder value.” I call bullshit on that one. It actually takes away shareholder value because it loses the meaning that New York & Company has built.
I guess at the very least Wall Street will pay more attention to RTW Retailwinds. But honestly, if your business is performing well, you’re going to get all the attention you want from Wall Street. Regardless of what your name is. This just makes no sense.
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