Top 10 Times One Person DESTROYED an Iconic Brand
Welcome to WatchMojo, and today were counting down the times that one person caused the downfall of an entire brand.
#10: Mike Jeffries
Abercrombie & Fitch
Originally founded in 1892 as an outdoor sporting goods store, Abercrombie & Fitch underwent a significant brand shift before it became a trendy teen-focused retailer in the 1990s. Branding was huge for Abercrombie, as the company heavily invested in marketing themselves as a casual luxury lifestyle brand. Abercrombie heavily influenced teen fashion at its peak, becoming a label many aspired to own, until CEO Mike Jeffries made a controversial comment. Jeffries stated in an interview that he wanted his clothes to be worn only by good-looking, cool kids, and openly admitted to his brand being exclusionary. Jeffries stepped down as CEO in 2014, and only recently has Abercrombies brand image improved, though nowhere near the level it once was.
#9: Kevin Bruner
Telltale Games
Founded by former LucasArts developers, Telltale games seemed to be playing on easy mode with their lucrative IP-focused games like Jurassic Park: The Game and their breakout hit video game of The Walking Dead. Behind the scenes, however, it was a different story. Founder and CEO Kevin Bruner was said to have his team working in constant crunch time, developing multiple titles at a time. Employees lived in constant fear of being demoted or fired, leading to hasty work that was often buggy and subpar. Eventually Bruner was removed from his position by the board of directors, but the damage had already been done. The company was forced to lay off nearly all of its workforce in a futile attempt to keep the company afloat.
#8: Bob Parsons
GoDaddy
Known for their provocative and attention-grabbing Super Bowl ads, this domain registrar company has certainly made a name for themselves over the past few decades. These ads have often been criticized for being sexist in nature, but surprisingly this wasnt the reason for the brands big controversy. Founder Bob Parsons came under fire after he posted a video of himself killing an elephant and posing with its body. This caused significant outrage and resulted in many cutting ties with the company, but Parsons doubled down. Instead of apologizing, Parsons stated all publicity is good publicity.
#7: Mike Lazaridis
BlackBerry
The brain behind the revolutionary BlackBerry smartphone, Mike Lazaridis was a true innovator in the field of communication. Unfortunately, this doesnt always translate into good business sense. Lazaridis was anti-touchscreen, despite the iPhones increasing popularity demonstrating that he was in the minority. Believing the iPhone to be a passing fad, Lazaridis and BlackBerry were slower to react. The BlackBerry Storm released in 2008, a year after the iPhone, and disappointed customers with its buggy touch screen and lack of Wi-Fi. Despite BlackBerrys head start in the smartphone world, Apple quickly surpassed the Canadian company, which has since discontinued their flagship product.
#6: Sam Bankman-Fried
FTX
Once considered a cryptocurrency wunderkind, Bankman-Fried quickly became the poster child for modern-day investment fraud when his shady business practices were uncovered in 2022. Bankman-Fried founded FTX, short for Futures Exchange, in 2019. When concerns arose over the companys management of investments, customers began withdrawing their assets at rates FTX couldnt keep up with. The company was forced to declare bankruptcy, and Bankman-Fried resigned as CEO shortly before he was arrested on charges of fraud and money laundering. FTX and Bankman-Fried are now synonymous with crypto fraud, and the scandal severely damaged consumers trust in crypto exchanges like FTX.
#5: Lance Armstrong
Livestrong
Celebrated athlete and cancer survivor Lance Armstrong founded this nonprofit to provide support for other cancer survivors, a truly noble cause. With an inspirational celebrity as the face of the nonprofit, Livestrong received an outpouring of public support and has helped over 100,000 people access critical services. When it emerged that Armstrong had used performance-enhancing drugs and would be stripped of his Tour de France titles, major partners like Nike decided to end their relationships with Livestrong. Armstrong stepped down as chairman, and Livestrong rebranded in an effort to distance themselves from their founder. Since the scandal, the foundations annual income has continued to suffer.
#4: Harvey Weinstein
The Weinstein Company
After getting away with one of the biggest open secrets in Hollywood for decades, Weinsteins actions finally caught up to him in a major way. Victims of sexual harassment and abuse from Weinstein came forward in droves, triggering the #MeToo movement. As a result, Weinsteins name was permanently tarnished alongside his production company, The Weinstein Company. Weinstein was fired as CEO after the allegations emerged, but just a few months later the company would declare bankruptcy. While its disappointing that he was able to get away with abuse for so long, the overwhelming public rejection of Weinsteins name was refreshing to see.
#3: Bernard Ebbers
WorldCom
The once second-largest long-distance telephone company in America quickly became the biggest telecommunications embarrassment when a large accounting scandal was revealed in 2002. The Telecom Cowboy, as Ebbers was known, had been covering up WorldComs falling earnings with accounting fraud amounting to $3.8 billion in false records. An investigation by the SEC estimated the total fraud to be closer to $11 billion, the largest accounting fraud scandal in American history at the time. WorldCom filed for bankruptcy and was eventually acquired by Verizon Communications. Ebbers was charged and found guilty of fraud and conspiracy, earning him a 25 year prison sentence.
#2: Kanye West
Yeezy
After launching a fashion line in collaboration with Adidas, Yeezy instantly became a certified streetwear staple. Kanyes fame helped him expand Yeezy into an empire, including multiple fashion lines, a music label, and a news website. In recent years, Kanyes controversial political comments have landed him and his brand in some trouble. His anti-semitic remarks in 2022 caused Adidas and Gap to sever ties with the rapper and entrepreneur. More recently, a distasteful shirt featuring a swastika was sold on Yeezy.com, resulting in e-commerce company Shopify shutting the website down.
#1: Elon Musk
Tesla
The wealthiest person in the world with a whopping $345 billion net worth, Elon Musk has been the CEO and public face of Tesla since 2008. Under Musks leadership, the electric cars became popular for both their sleek, futuristic look and positive impact on the environment. This year, however, Tesla share prices are down 40%. The reason? Musks controversial involvement in the Trump administration, particularly as the head of DOGE. Though his slashing of government programs has shocked many, Tesla shareholders are particularly worried that DOGE has consumed too much of the CEOs attention. Though Tesla profits are still currently down, Musk returning his focus to Tesla might bolster his investors.
Which of these individuals do you think made the biggest branding blunders? Let us know in the comments!
