Timberland’s brand value takes a hit in new report
Consulting firm says company’s brand is worth $1.54 billion
The value of the Timberland brand is slipping, but it’s still worth $1.54 billion, according to a report of the top 500 brands of 2017 compiled by the consulting firm BrandFinance.
The shoe and apparel maker’s brand is the 415th most valuable in the U.S., the report said. It’s the only brand based in New Hampshire on the list.
But the Timberland brand appears to be “struggling,” according to Brand Finance, which said its value is down 2 percent from last year, when it was worth $1.58 billion and was ranked 398th on the top 500 list.
when it was worth $1.58 billion.
“The Stratham-based brand is struggling to make headway despite a series of initiatives to position it as a leader in corporate social and environmental responsibility,” said BrandFinance in a press release.
Timberland recently launched a drive offering customers to design a pair of its boots, and partnered with Thread International, a maker of responsible fabrics. It also opened up a new specialty store in Seattle and partnered with celebrities such as DJ Khaled, but none of those recent initiatives have shown up in the report’s metrics, BrandFinance said.
Timberland ranked way behind Nike (No. 17), though still above Converse, which rose from 522 to 432. The North Face, another outside apparel company that is owned by Timberland’s parent company, VF Corp., ranked 200th, the same as last year.
Planet Fitness, a New Hampshire company that recently public, and Bauer, now Performance Sports Group, which recently went bankrupt, are two well-known New Hampshire based brands that weren’t listed.
Nationally, Google was on top, with $109 billion in brand value, up 24 percent, overtaking Apple at $107 billion down 27 percent.
Timberland said it values its brand at $1.8 billion based on 2016 revenues, and that the company has grown at an 8 percent clip over the past eight years.
“Our vision is to be the largest, most sustainable outdoor lifestyle brand on Earth,” said the company.
Timberland also alluded to VF Corp.’s new 2021 strategic growth plan that will include “innovative footwear platforms and increased focus on women’s footwear … largely driven by VF’s Global Footwear Innovation Center.”