The Importance of Brand Name.
J Am Coll Radiol. 2017 Nov;14(11):1510-1512. doi: 10.1016/j.jacr.2017.04.018. Epub 2017 Jun 16. Freeman M1, Fishman EK2, Horton KM2, Sheth S3.
For the past 2 years I have had the fantastic opportunity to lead the brand team in the endeavor of splitting Hewlett Packard (HP), a 75-year-old company with a household name, 270,000 employees, and 75 offices across the globe, into two separate and distinct entities.
The HP brand equity at the time of the split was valued in double-digit billions of dollars, and theoretically, only one company could keep the name. By giving up the brand HP, “NewCo” stood to lose all the equity.
To best capitalize on the value of the brand for both entities, we decided to keep “HP” for the consumer brand, which retained the printer and the PC side of the original company. We chose “Hewlett Packard Enterprise” (HPE) for NewCo, which is the cloud, hardware, software, and consulting business. As a result, both new companies were able to retain the equity of the original brand.