A Dunkin’ Donuts rebranding has been announced today.
In a bid to be seen as a “beverage-led” food retailer, Dunkin’ Donuts (NASDAQ:DNKN) will be dropping Donuts from its title.
Moving forward, it will simply be known as Dunkin’.
Dunkin’ Donuts Rebranding
The change will be in name only as the food chain—famed for its array of doughnuts—will still be serving the breakfast staple.
The name change will be brought in across its locations and merchandise, effective beginning in January 2019.
Evolving
It seems that Dunkin’ wants to be known for its other food and coffee ventures as it evolves beyond just doughnuts.
For many years, the company has been offering coffee and iced tea beverages. It also introduced a new cold brew coffee this year. Astonishingly, it is these offerings which make up 60% of Dunkin’s revenue in the US.
>> Qualcomm Versus Apple: A New Lawsuit Added to the Fray
Dunkin’ Donuts has also been switching up its food selection, offering other pastries and sweet-tooth treats along with its eponymous doughnuts.
Still the Doughnut King
But doughnuts still hold a massive stake in the company’s revenue; Dunkin’ Donuts is still the top doughnut seller in the US with an average 2.9 billion sold worldwide.
Tony Weisman, Chief marketing officer at Dunkin’ in the US, said the following about the Dunkin’ Donuts rebranding:
“While donuts may no longer appear in our logo, we remain committed to serving our signature donuts and will continue to offer new and seasonal varieties to delight donut lovers everywhere. By simplifying and modernizing our name, while still paying homage to our heritage, we have an opportunity to create an incredible new energy for Dunkin’, both in and outside our stores.”
DNKN Stocks
It seems investors are taking the news well. DNKN stock is in the green, up 2.48%, at the time of writing. It’s not important that this gain isn’t huge. What’s important is that the news hasn’t affected the stock negatively. We’ve seen the effect rebranding decisions can have on the market.
Many major brands have experienced name changes. Did you know that Nike started out its life as Blue Ribbon Sports?
So here’s to Dunkin’ Donuts rebranding! Change is a good thing.
Featured Image: depositphotos/jetcityimage2
