Russell & Bromley. The fame was the problem.
Russell & Bromley made shoes for Princess Diana, Kate Middleton and Camilla. It went bust in January. The things that make a brand famous are usually the things that kill it.
THE GIST ON RUSSELL & BROMLEY: "Down at Heel"
What happened to Russell & Bromley?
It has been making shoes since 1879, family owned for 145 years. In January the family handed the keys to the administrators. Next picked up what was left for two and a half million quid, cut 440 jobs, and only three stores survived: Chelsea, Mayfair and Bluewater.
What did it have going for it?
Everything a British heritage brand is supposed to have. Royal endorsement from Princess Diana and then Kate Middleton, big stores from Bond Street to Sloane Street, premium prices and a premium reputation.
So what went wrong?
Being the brand a princess wears tells everyone what kind of person buys your products. The customer was your mum, your nan, your uncle. The royal endorsement made it a dream brand for people in their 50s and invisible to anyone under 30.
Heritage works the same way. 145 years is a very long time to still feel young. They resisted going online for a decade, kept prices high and stores grand, while the customer base got smaller and smaller.
What is the lesson?
The bits of a brand that protect you for 100 years are usually the bits you can't get past in year 101. So is heritage an advantage or just baggage?
Does heritage make you buy or put you off?
Your take. One tap, then see how everyone else voted.
Quick answers
Who bought Russell & Bromley?
Next picked up what was left for two and a half million quid.
How many stores survived?
Three: Chelsea, Mayfair and Bluewater, with 440 jobs cut.
Why did royal endorsement hurt?
It made the brand a dream for people in their 50s and invisible to anyone under 30.
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