Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 14 pages
Data source: Published sources
Abstract
Gibson was an iconic American brand, highly esteemed for its legendary guitars over several generations. It had catered to the changing genre of music and was highly regarded by musicians including BB King to Eric Clapton, Jimmy Page, Duane Allman and Slash. It was also highly popular with guitar-centric bands, which included the Beatles, the Rolling Stones and the Grateful Dead. Its current Chairman and CEO, Henry Juszkiewicz (Juszkiewicz), who revived the company from the verge of bankruptcy in 1986, planned to remake Gibson into a lifestyle brand, similar to what Nike had done for sports. Toward this end, Juszkiewicz acquired consumer electronics companies, chief among them being Philips' home entertainment and accessories division. While the move seemed to be contributing to Gibson's revenues, its debts were increasing. In May 2018, Gibson filed for Chapter 11 bankruptcy and announced restructuring plans. With the industry witnessing a rapid change in its trends and emerging consumer needs, would the Gibson brand be revived and revitalised? More so, how the brand would evolve also remained to be seen.
Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 8 pages
Data source: Published sources
About
Abstract
Gibson was an iconic American brand, highly esteemed for its legendary guitars over several generations. It had catered to the changing genre of music and was highly regarded by musicians including BB King to Eric Clapton, Jimmy Page, Duane Allman and Slash. It was also highly popular with guitar-centric bands, which included the Beatles, the Rolling Stones and the Grateful Dead. Its current Chairman and CEO, Henry Juszkiewicz (Juszkiewicz), who revived the company from the verge of bankruptcy in 1986, planned to remake Gibson into a lifestyle brand, similar to what Nike had done for sports. Toward this end, Juszkiewicz acquired consumer electronics companies, chief among them being Philips' home entertainment and accessories division. While the move seemed to be contributing to Gibson's revenues, its debts were increasing. In May 2018, Gibson filed for Chapter 11 bankruptcy and announced restructuring plans. With the industry witnessing a rapid change in its trends and emerging consumer needs, would the Gibson brand be revived and revitalised? More so, how the brand would evolve also remained to be seen.
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Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 8 pages
Data source: Published sources