Page 14 - aruba-today-20240912

A14 BUSINESS
Thursday 12 sepTember 2024
Campbell wants to say goodbye to the ‘soup’ in its name. It isn’t

the first to make such a change

By W. GRANTHAM-PHILIPS of treats.
AP Business Writer Domino’s
NEW YORK (AP) — Campbell Domino’s Pizza took the word
is ready to drop the soup at “pizza” out of its logo and off
least from its official name. storefronts back in 2012, with
Campbell Soup Co. an- leadership of the Ann Arbor,
nounced its intention to Michigan-based chain at the
change its name at an an- time citing menu expansions
nual meeting of investors on and other in-store updates.
Tuesday. The 155-year-old But its parent company is
food seller, which is most still named “Domino’s Piz-
famous for its assortment of za Inc.,” which is what the
namesake canned soups, brand trades as on the New
says it would now like to be York Stock Exchange.
known as “The Campbell’s Starbucks
Co.” CEO Mark Clouse said in Starbucks has also seen logo
a statement that this “subtle changes over the years
yet important change” will which included the short-
retain the company’s iconic ening, and then dropping,
name “while better reflecting of the Seattle coffee giant’s
the full breadth” of its port- name over the years.
folio today. Cans of Campbell’s soup are displayed in a supermarket on March 25, 2021, in New York. Back in 1971, Starbucks’
Campbell hasn’t been ex- Associated Press original logo depicted a siren
clusive to the soup business surrounded by its then-name
for some time. The company is far from the first to attempt But he doesn’t see these risks itself to reflect its increasing “Starbucks Coffee, Tea, and
also owns brands like Prego such as makeover. A hand- with Campbell noting that emphasis on coffee and Spices,” the company notes
sauce and Goldfish crackers ful of other food companies the move is “unlikely to affect other drinks. on its website

and completed a $2.7 billion have also rebranded them- consumer perception” and Krispy Kreme In 1987, that siren got a
acquisition of Sovos Brands, selves over the years often may instead signal a “drive Krispy Kreme also dropped makeover and the name
the maker of Rao’s pasta shedding the mention of spe- for expansion and growth.” “doughnuts” from its cor- encircling her was short-
sauces, just earlier this year. cific item they were known Here are some past exam- porate name several years ened to “Starbucks Coffee”
Campbell’s roots date back for with shorter corporate ples. later ahead of the Charlotte, — and by 2011, Starbucks
to 1869, as a modest opera- title, or even just an updated Dunkin’ North Carolina-based com- introduced its latest logo,
tion out of New Jersey that logo, in hopes of emphasiz- Back in 2018, Dunkin’ Donuts pany’s second time going which doesn’t feature the
later grew. The “Campbell ing other business. decided to shorten its name public in 2021. company’s name at all.
Soup Co.” name was ad- Manoj Thomas, a marketing to just “Dunkin’” which offi- According to a securities fil- While absent from the logo,
opted in 1922, according professor at Cornell Univer- cially took effect in January ing, Krispy Kreme Doughnuts Starbucks still operates as
to the company’s website. sity’s SC Johnson College of 2019. The Massachusetts- changed its name to Krispy “Starbucks Coffee Co.,” or
The new name isn’t official Business, says that it’s impor- based chain had toyed with Kreme Inc. in May 2021. But similar names that include
yet. The “soup” decision is tant to consider whether a the idea for some time. And, the word “doughnuts” still the word “coffee” in many
still subject to a shareholder new name will disrupt prod- while doughnuts are still very prominently accompanies countries around the world,
approval vote in November. uct recognition or stray from much on the menu, it even- the Krispy Kreme name on as subsidiaries of the larger
But the New Jersey company a company’s core identity. tually decided to rename the chain’s logo and boxes Starbucks Corp. q

European business confidence in China is at an all-time low, report says

by leveling the playing field to the paper published slowdown and a politicized
for all companies in the Wednesday by the Europe- business environment.
country, a European busi- an Chamber of Commerce “For some European head-
ness group said Wednes- in China. quarters and sharehold-
day. With “business confi- In August, China filed a ers, the risks of investing
dence now at an all-time complaint with the World in China are beginning to
low” over lagging domestic Trade Organization over outright the returns, a trend
demand and overcapac- European Union tariffs on that will only intensify if key
ity in certain industries, the electric vehicles made in business concerns are left
annual European Business China. It also launched unaddressed,” Jens Eske-
in China Position Paper anti-dumping and subsidies lund, president of China’s
called on China to open investigations of European European Union Chamber
its economy and allow a dairy products, brandy and of Commerce, said in a
more free market to deter- pork exports. The tit-for-tat message at the beginning
mine resource allocation. actions have raised fears of the paper.
It also recommended in- that a trade war may break The European Chamber’s
President of the European Union Chamber of Commerce in troducing policies to boost out. Many European busi- paper proposes over 1,000
China Jens Eskelund holds a copy of the annual European domestic demand. nesses are deciding that recommendations for Chi-
Business in China Position Paper during a press conference in Profit margins in China are the returns on investments na to resolve challenges
Beijing, Wednesday, Sept. 11, 2024. at or below the global av- in the world’s second-larg- and problems faced by Eu-
Associated Press
erage for two-thirds of the est economy are not worth ropean businesses operat-
HONG KONG (AP) — China growth and reforms and companies surveyed ear- the risks, due to issues in- ing in the country and boost
must reprioritize economic boost investor confidence lier in the year, according cluding China’s economic investor confidence.q