The famous computer peripherals manufacturer, Logitech has undergone through a rebranding process and has changed its name to Logi. The company also has a new visual identity, meaning it’s got a fresh, new logo. The shedding of its old skin is due to the fact that the company wants to appeal more to a younger generation of consumers.
Logitech, now known as Logi, is based in Newark, California and in Lausanne, Switzerland. The company wants to focus on designing and producing new products, like cases and keyboards for tablets. According to Logi, the new products under the new brand name will be released sometimes this year.
Logitech is known mostly for being the largest computer mice manufacturer in the world. The tech company said it was time for rethinking the brand since it was getting too old fashioned. Bracken Darrell, CEO of Logitech, explained the new rebranding, saying the company couldn’t keep the same name in the future because it was too “1980s”. Darrell added that the company will release new and exciting products that move away from computer peripherals, and they needed a new visual identity and a new logo to better represent the new, more modern brand.
This is Darrel’s latest initiative to refresh Logitech since he took over the company more than two years ago. Before this, Darrell had been co-executive for Procter & Gamble.
The company started to do better on the market after cutting down the number of products it manufactured and increased the speed of development. According to recent reports, Logitech’s net profit has doubled in the past year to almost $135 million. Also, the company’s share price has gone up to more than 20% in the last year.
Darrell said that in the last couple of years the company has grown a lot and is no longer just a computer peripherals company.
According to analysts, Logitech was beginning to lose its way recently, mostly because the products it made were no longer competitive, and the company was very slow in creating products meant for tablets. But since then, Logitech has been successful, especially because of its wireless speakers that turned out to be a best seller.
Darrell believes the new rebranding will help Logitech sell more products, as well as allowing the company to sell them for a higher price. The goal is to increase the sales at least by 10% in the future.
Image Source: cnet