Popeyes Louisiana Kitchen was purchased for the largest earnings multiplier in modern history this February. Popeyes fetched such a large price because they cultivated an excellent brand. It used to be called Popeyes Chicken & Biscuits before Popeyes Louisiana Kitchen. The new name was put in place to imply credibility. It was almost named Popeyes New Orleans Kitchen. They wanted to associate the brand with the famous food tradition of Louisiana. A national television ad campaign was launched to highlight the new brand.

Key Takeaways:

• Advertising on National cable helped turn the Popeye’s franchise around.
• A distinctly different name and logo helped Popeye change its image.
• In keeping with its new name, implying a wider taste profile, the franchise has greatly diversified its food offerings.

“Popeyes’ comeback over that decade is a story of a brand that earned trust with its franchisees, and focused on branding, and a more efficient use of advertising.”

Read more: http://www.nrn.com/mergers-acquisitions/how-popeyes-name-change-helped-turn-its-fortunes