Here's a counterintuitive business strategy: Sell the company name, operate under a slew of other brands for 34 years, then buy back your original name for $50 million. That pretty much summarizes what Electrolux, the world's largest home-appliance maker, did in America.
Did you know that Electrolux vacuums are not really Electrolux vacuums? Did you know that Fridgidaire, Weed Eater, and White-Westinghouse brand are really Electrolux products?
Here is a fascinating little story on Electrolux, how it sold it's brand name 34 years ago and has now bought it back. Watch, you will see double-logo'd products now such as Fridgidaire Electrolux.
The new logos are part of CEO Hans Straberg's global branding strategy. "I'd like my legacy to be one of the guy who got the Electrolux products together under one umbrella name," he says.
By the way, Electrolux manufactured vacuums are really Eureka. Electrolux BRANDED vacuums are actually made by a company called Aerus.
This guy has a serious branding challenge ahead.