FNB acquires a brand protection unit or team
Tuning the Tone
G'day mate! The Sunday Times headline on March 30, "SA Rugby gets more bang for the Boks," was a bit of a sensationalist, but let's dive into the real story - South Africa's beloved Springboks are more than a local powerhouse, they're a global power brand!
In bygone days, accountants would focus on tangible assets like buildings and machinery, but they forgot these things have a shelf life. Today, values lie in intangibles like branding - and the Springbok is no exception.
In 1995, former Quaker Oats chair John Stuart remarked, "I'd take the brands, trademarks, and goodwill over all the bricks and mortar." This sentiment echoes today, as brands encompass countries, people, and everything in between.
Marketing guru John Murphy once said, "Treat brands as 'things' - they're buyable, sellable, memorable, mortgageable, licensable." South Africa's Springboks certainly fit that bill!
On June 24, 1995, Francois Pienaar led the Springboks to a memorable victory against the All Blacks at Ellis Park. Despite the criticism that the Springbok was an emblem of the apartheid era, Nelson Mandela's wise words helped preserve the symbol.
South African Rugby Union president Louis Luyt recognized the Springbok's potential and aptly described it as a brand that needed saving. A simple logo change wasn't enough. Instead, we had to delve into the history, heritage, and evolution of the Springbok brand, crafting a captivating narrative around it.
Danie Craven, a Stellenbosch pioneer, kept a treasure-trove of materials tracing the development of the Springbok badge. With political pressure mounting, a swift yet subtle overhaul was needed to stay true to the brand's roots, yet avoid trademark challenges on a global scale. The Springbok brand is all about unity, cultural significance, and international success. It's a symbol that represents our nation's triumphs - both on and off the field.
- The Springboks, a global power brand in the world of rugby, are more valuable than just local businesses, with their intangible assets being a significant focus in the realm of finance.
- In today's business environment, a company's valuation often lies in its intangible assets, such as branding and goodwill, and the Springboks certainly fit this description.
- The Springboks, South Africa's national rugby team, have transcended their role as a local powerhouse, serving as a flagship brand that showcases South African business on a global stage.
- Just as marketing experts treat brands as tangible entities that can be bought, sold, and licensed, one could argue that the Springboks meet these criteria, representing a unique opportunity in the field of business.
- The Springboks' victory against the All Blacks in 1995, under the leadership of Francois Pienaar, not only boosted the team's reputation on the field but also solidified its status as a powerful brand in the world of international finance and marketing.
