This summer, luxury brand Yves Saint Laurent announced that it would be switching out its classic logo in favor of a new, minimalistic “Saint Laurent Paris” logo. Fans of YSL complained that there was no need to change the logo, and that it lacked the original’s elegance and famous interlocking letters. As the date gets closer and closer, loyal fans of the old logo are spending furiously in hopes of snatching up the remaining merchandise.
Brand renewal is a risky move for any company. It can have adverse affects on the brand positioning of the company if consumers don’t find the logo sexy or appealing. On brand renewal, Milton Pedraza of research and consulting firm the Luxury Institute says:
“If you run away from your classic product or reinterpret your classics […] too far away from the DNA of the brand, you will fail. Period.”
While I think that the new logo strayed too far from the original created by Cassandre, I don’t believe that YSL will “fail” like Pedraza warns. Top brands like YSL don’t change much in terms of brand positioning because they already has an established following. However, the demographics of its customers will likely expand to include younger consumers who are excited to be part of the “new” YSL Saint Laurent Paris (SLP?).