Brands That Last: Five Rules from Relevance to Lovemarks

Why do some brands vanish while others live forever in the hearts of customers?

--

In retail’s relentless churn, where consumer tastes shift, technologies disrupt, and economic shocks test resilience, brand longevity is rare. Most brands rise, shine briefly, then fade. Yet some defy this arc, evolving to stay relevant across decades. Enduring retail brands don’t just stand out—they make their customers feel they stand apart. They go beyond products to create emotional connections, making customers feel privileged, uplifted, and confident. Over time, this sense of belonging to a community with shared values transforms admiration into affection, and brands into Lovemarks. This article, grounded in research and case studies, explores what separates enduring brands from the extinct, offering a framework for survival in a $28 trillion industry.

“The world changes, the environment changes, competition changes, people change, everything changes. Retailers can’t ever stay the same. If you don’t change you are a dead duck.” —Bernie Marcus, Built from Scratch

Take Brooks Brothers, founded in 1818. It’s dressed 41 U.S. presidents and survived wars, depressions, and a 2020 bankruptcy. Its secret? Adapting—modernizing designs, embracing e-commerce, and recommitting to its tailoring roots. “Our long history is a testament to our brand’s strength,” says CEO Ken Ohashi. Brooks Brothers evolves without losing its core.

For over 200 years, Brooks Brothers has remained resilient, navigating evolving fashion trends, fluctuating economic cycles and even world wars. Our long history is a testament to the strength of our brand and our mission since 1818.” – Del Vecchio

The ultimate goal isn’t just survival but emotional permanence—becoming a “lovemark” that inspires loyalty beyond reason, as Kevin Roberts termed it. Apple’s stores feel like theaters; Amazon’s seamless tech redefines convenience. IKEA, Uniqlo, and Costco weave trust and simplicity into daily life, building belonging, not just chasing trends.

Yet even iconic brands stumble. Abercrombie & Fitch pivoted from exclusion to inclusion. Victoria’s Secret is rethinking its identity. Best Buy survived near-collapse by emphasizing expertise. Meanwhile, Gap and Macy’s struggle to define their purpose, and Sears and Toys "R" Us faded for failing to evolve.

Our framework, drawn from two centuries of retail, defines four brand realities:

• Enduring brands last by embedding into culture through consistency and reinvention.

• Reinvented brands recover from missteps with agility and bold strategy.

• Struggling brands linger, trapped by outdated models.

• Extinct brands lead briefly but collapse without adaptation.

  
  

Through these four lenses, and hundreds of case studies, we distill five enduring rules for staying relevant in a world defined by change. These are not abstract ideas—they are lived truths from brands that fought to matter, lost their way, or earned their place in culture. Because in the end, all brands are tested. Some fade. Some adapt. But a rare few—by staying close to their customers, grounded in their identity, and fearless in evolution—earn the right not just to survive, but to live forever and eventually become lovemarks in the lives of their customers.

1.      Enduring Brands: What It Takes to Become a Lovemark

A store should be like a song of which one never tires. A store should be a social center, not merely a place for shopping.- Harry Gordon Selfridge

In his seminal book Lovemarks, Kevin Roberts describes brands that inspire “loyalty beyond reason” through mystery, sensuality, and intimacy. In retail’s volatile landscape, lovemarks—trusted, loved, indispensable—achieve a rare emotional edge, embedding themselves in lives. Here’s how some brands do it.

• Apple Store: Apple’s stores are tech sanctuaries. Mystery lies in minimalist displays and curated product drops. Sensuality shines in tactile interactions—devices to touch and swipe. Intimacy comes from the Genius Bar, where staff solve problems, making purchases personal and aspirational. Apple sells belonging, not just devices.

• Trader Joe’s: Trader Joe’s builds trust with quirky, quality offerings. Weekly surprises like ube ice cream create mystery. Sensuality flows from flavors and friendly staff in Hawaiian shirts. Intimacy—employees remembering names, hand-drawn signs—turns shoppers into a tribe, even if it means long lines.

• Costco: Costco’s devotion comes from substance. The treasure-hunt layout—fine wines beside patio furniture—sparks mystery. Sensuality emerges in samples and abundant aisles. Intimacy, through membership and trusted Kirkland Signature, fosters belonging. Costco’s reliability keeps members returning.

  
  

We have great confidence in the enduring appeal of our treasure-hunt shopping experience. "We believe the appeal of in-store shopping is not going away,"-  TJX CEO, Ernie Herrman

These brands share clarity, control, and emotional resonance. They don’t transact—they connect. Other lovemarks like Selfridges, IKEA, Zara, Tanishq, Primark, and Patagonia prove it, thriving not just in markets, but in hearts.

2.      Reinvented Brands: Turning the Ship Around

Our ability to embrace change – to reinvent ourselves – is what has made Home Depot so successful. In 22 short years, we’ve grown to $46 billion in sales – with a scale, scope, and reach that is unparalleled in the home improvement industry.” – Bernie Marcus and Arthur Blank, Home Depot annual report 2000

In retail, irrelevance is a harsh reality. Shifting consumer preferences, fierce competition, and e-commerce disrupt even the strongest brands. Gen Z redefines loyalty, inflation shifts values, and digital fatigue reshapes expectations.

Yet some brands rewrite their fate through humility, courage, and vision, crafting second acts stronger than their first.

• Best Buy: By 2012, Best Buy was faltering against Amazon. Under Hubert Joly, “Renew Blue” transformed culture and customer experience. Price-matching, an enhanced Geek Squad, and same-day fulfillment hubs revitalized stores. Empowered staff and rebuilt vendor ties restored pride and trust, redefining physical retail in a digital era.

• Home Depot: In the early 2000s, Home Depot lost its DIY and contractor roots. Frank Blake refocused on people, reinvesting in training, modernizing stores, and embracing e-commerce while strengthening in-store service. “Our ability to embrace change is what made Home Depot successful,” note founders Bernie Marcus and Arthur Blank. It rediscovered its purpose, serving tinkerers and builders alike.

• Abercrombie & Fitch: Once a teen status symbol, its exclusionary image became a liability. CEO Fran Horowitz led a rebrand with inclusive products, humanized marketing, and inviting stores. Targeting Gen Z with body positivity and digital storytelling, Abercrombie achieved a redemption arc, erasing its controversial past for many.

• Marks & Spencer: A UK icon turned relic, M&S transformed under Stuart Machin. Refreshed fashion, adventurous food, and the Ocado partnership boosted grocery delivery. Modernized stores and digital infrastructure attracted younger shoppers while retaining loyalists, proving heritage can fuel reinvention.

  
  

These brands share a pattern: leaders facing hard truths, breaking from dogma, and embracing systemic change. They listened, reset, and acted decisively. Other reinvented brands like Levi’s, Uniqlo, and Barnes & Noble thrive by honoring their essence while reshaping their future, proving reinvention is about courage, not abandonment.

3.      Struggling Brands: Fighting to Stay Afloat

Macy’s is a rudderless mess. Macy’s biggest problem is that the retailer cannot articulate what it stands for. – Mark Cohen, Professor, Columbia Business school

Struggling Brands, once retail titans, now linger in an identity crisis—neither relevant nor obsolete, eroding quietly. They failed to evolve with a changing world, driven by demographic shifts, e-commerce, and new consumer expectations. Slow to adapt or clinging to outdated strategies, they’ve lost touch with their purpose and audience.

• Macy’s: Once America’s department store icon, Macy’s defined city-center prestige and holiday magic. But it’s struggled to modernize, stuck between discount and high-end competitors. Piecemeal store closures and digital efforts haven’t clarified its role. “Macy’s cannot articulate what it stands for,” says Professor Mark Cohen. Its dated experience risks irrelevance.

• JCPenney: In 2011, Ron Johnson’s radical overhaul—abandoning coupons for boutique-style stores—alienated loyal customers. Sales crashed, and despite attempts to recover, JCPenney never regained its footing. The misstep exposed a disconnect with its core audience.

• Office Depot: Thriving in the ‘90s, Office Depot missed the shift to remote work and digital offices. Amazon outpaced it, and its pivot to B2B services came too late. Once a supply hub, it now struggles for consumer relevance.

• Victoria’s Secret: An icon of sensuality, it clung to a male-gaze image as values shifted toward inclusivity. Slow to adapt under Les Wexner, its pivot to body positivity is proving challenging, leaving it out of step with modern shoppers.

These brands share failures: losing emotional relevance, misreading consumers, and strategic errors. Assets like name recognition remain, but without rediscovering purpose, they risk becoming relics. Kohl’s, Bed Bath & Beyond, Neiman Marcus,  and Staples face similar limbo, reminding us that even greatness fades without renewal.

4.      Extinct Brands: The End of the Line

Extinct brands, once retail giants, vanished due to strategic missteps, denial, or irrelevance. Their downfall wasn’t sudden but a slow erosion, ending in quiet fades or dramatic collapses amid retail’s tectonic shifts.

• Sears: America’s retail titan, Sears rivaled Amazon with its catalog and trusted brands like Kenmore. But it stayed analog as the world went digital, neglecting stores and e-commerce. CEO Eddie Lampert’s financial engineering prioritized asset sales over customer experience, leaving Sears irrelevant by the time it noticed.

• Toys “R” Us: A toy paradise, it had emotional pull but succumbed to debt, digital lag, and inertia. Failing to invest in online or refresh stores, it lost to Walmart and Amazon’s prices and logistics. A 2005 buyout’s debt crushed innovation, dimming Geoffrey’s joy.

• Borders: A book lover’s haven, Borders fumbled by outsourcing online sales to Amazon, over-expanding, and betting on CDs as digital content surged. Slow to adopt e-readers, unlike Barnes & Noble, it misread the market. Bankruptcy hit in 2011, ending a beloved chain.

• Circuit City: Once an electronics leader, it faltered through arrogance and cost-cutting. Laying off experienced staff in 2007 gutted service, while Best Buy’s better layouts and online retailers outpaced it. Circuit City reacted too late, closing in 2009.

  
  

These brands shared strong foundations but lacked imagination and urgency. Financial engineering (Sears, Toys “R” Us), ego, or blind cost-cutting (Circuit City) overshadowed customer focus. Pier 1 Imports and RadioShack followed suit, ignoring signals until extinction. In retail, relevance is rented, never owned.

The Search for What Makes Retail Endure

A journey through boardrooms, classrooms, and store aisles—from Boston to Beijing—to understand why some retailers stand the test of time while others fade away.

From Boston to Beijing, I have explored store aisles to understand why some retailers endure while others vanish. My journey through boardrooms, classrooms, and frontlines reveals the essence of retail longevity. I’ve witnessed Trader Joe’s build loyalists, Abercrombie & Fitch redefine itself, and Bed Bath & Beyond collapse. I have studied 7-Eleven’s growth in China and Best Buy’s struggles. The real differentiator was mindset: some leaders acted with conviction and agility; others clung to legacy playbooks that no longer worked.

After writing 40 case studies on global retailers, a clear pattern emerged: enduring brands embrace an agile mindset unbound by old strategies. This isn't just theory. From my experience teaching at top business schools and tackling sales and margin pressures as a former CEO, I’ve seen how this mindset provides the grit to navigate uncertainty and the focus to resist distractions.

Ultimately, retail endurance isn’t just a strategy—it’s a mindset forged in action.

The 5Rs Framework: Five Rules That Help Retailers Endure

From store aisles to boardrooms, my global retail experience reveals that enduring brands don’t thrive by chance. A clear framework, born from real-world insights, defines their success: the 5Rs—Relevance, Resilience, Reinvention, Right Leadership, and Rallying the Workforce. These principles, grounded in lived examples, distinguish retailers that last from those that fade. Each “R” equips brands to navigate market shifts and cultural changes, ensuring they remain vital and adaptive in a dynamic world.

1. Relevance: Staying Tuned to What Matters Most

"It is not the strongest that survive, nor the most intelligent, but the most responsive to change."-  Charles Darwin

Retailers endure by cultivating relevance, staying close to customers’ evolving needs while preserving their core. It’s about understanding what customers value, not just chasing trends.

Costco’s quiet relevance shines through its 128 million-member model, with 90% renewal rates driven by trust and value. It embraced sustainability—plant-based proteins, compostable packaging—without raising prices, aligning with shoppers’ priorities.

Zara operationalizes relevance, adjusting designs daily via 7,000+ store managers, delivering 20,000 new styles yearly with high sell-through. Speed is its system, not just a strategy.

Nordstrom blends digital and in-store personalization, with Nordstrom Rack boosting traffic 20% and $15 billion in 2024 revenue. REI’s purpose-driven relevance—eco-certified gear and resale programs—yielded $4 billion, with sustainable sales up 25%.

Contrast this with JCPenney’s 2012 misstep. To modernize, the brand shed its price-first identity and alienated loyal customers—wiping out $4 billion in annual sales. The lesson: change isn’t the enemy. Losing the customer’s trust is.

What Relevance Looks Like

• Speed with insight: Zara’s real-time design reflects customer input.

• Consistency with evolution: IKEA’s sustainability aligns with affordability.

• Trust before trend: Aldi’s growth stems from steady price and quality.

• Personalization with purpose: Nordstrom’s AI boosts lifetime value by 15%.

  
  

Relevance is a continuous conversation, designing businesses to sync with customers’ evolving needs.

2. Resilience: Weathering the Storm

In retail, storms are inevitable—recessions, pandemics, supply chain breakdowns, inflation spikes. Enduring retailers don’t dodge them; they absorb shocks and emerge stronger.

In 2008, while others cut back, TJX (T.J.Maxx, Marshalls) leveraged its off-price model, nimble inventory, and low advertising to attract value-seekers. “We’re built for volatility,” a store manager noted. By 2024, TJX hit $54 billion in revenue. “The off-price model thrives in all times,” TJX claims.

Best Buy, nearly extinct a decade ago, survived by focusing on service. Geek Squad, revamped stores, and omnichannel logistics weathered COVID-19.

"It doesn't look like you use yesterday's retail playbook to solve today's problems.” - Corie Barry, CEO-Best Buy

India’s DMart, led by Radhakishan Damani, built resilience with low costs, real estate control, and a focus on essentials, thriving through inflation and supply chain woes. Its strategy? Simplicity, discipline, and focus on middle-class households shopping for value every week.

Toys “R” Us, however, collapsed under $11 billion in debt and a rigid model, failing to shift online. Resilience requires proactive discipline, not reaction.

How Retailers Build Resilience

• Focus on core customers: Serve the 20% driving value.

• Stay lean: Flexible models like TJX and DMart excel in crises.

• Invest in differentiation: Best Buy added value, not just low prices.

• Avoid debt: Financial agility beats over-leverage.

• Prepare operations: Robust systems preempt crises.

  
  

Resilience is a muscle, built deliberately to thrive where others falter.

3. Reinvention: Rewriting the Story

“We are reinventing IKEA for the future, keeping our DNA intact—culture, values, and vision,” -  CEO Jesper Brodin.

Reinvention isn’t chasing trends;  It’s about having the clarity to see what no longer works—and the courage to act before it's too late.

Uniqlo stumbled in early global expansion but recalibrated with localized assortments and functional innovation. In China, flagship stores and digital investments made it the top apparel retailer by 2024, showing humility fuels reinvention.

Abercrombie & Fitch, once exclusive, pivoted under Fran Horowitz to inclusive sizing and authentic tone, hitting $4 billion in sales by 2024. Target, caught between Walmart and Amazon, invested $7 billion in stores and private labels like Good & Gather, reaching $107 billion in revenue with curated, convenient experiences.

Lululemon grew from yoga niche to lifestyle force, expanding into menswear and mindfulness, crossing $10 billion. Walmart’s $14 billion e-commerce push made it a $648 billion omnichannel giant, while Barneys, clinging to legacy, vanished by 2020.

How Retailers Reinvent

• Bet on the future: Target’s store upgrades turned shopping into discovery.

• Blend tech and humanity: Starbucks’ loyalty program feels personal for 30 million users.

• Rediscover purpose: Abercrombie shifted to belonging, driving growth.

• Empower frontline: Home Depot gave associates mobile tools to enable faster, more personalized service.

• Act early: Uniqlo pivoted; Barneys didn’t.

  
  

Reinvention requires imagination—but also discipline. It's not about abandoning your DNA. It’s about evolving it to stay vital, visible, and valuable.

4. Right Leadership: Steering the Ship

You can’t lead from behind. Be out in front—curious, learning, asking questions,” -  Walmart CEO Doug McMillon.

Leadership is the ultimate force multiplier in retail. In a volatile landscape, it's not just strategy—but who drives it—that determines whether a company flounders or flourishes.

In 2007, Home Depot struggled with disorganized stores and 55% customer satisfaction. CEO Frank Blake prioritized associates, boosting training and e-commerce. By 2010, satisfaction hit 85%; by 2024, revenue reached $150 billion. “Frank made us feel like we mattered,” said an Atlanta associate.

 “In 2012, people thought we were going to die – we were not in good shape,"- Hubert Joly, CEO of Best Buy.

Best Buy faced collapse in 2012. CEO Hubert Joly empowered staff, launched price matching, and enhanced Geek Squad, achieving $43 billion in 2024 revenue.

Uniqlo’s Tadashi Yanai overcame early global failures by refining supply chains and localizing products. By 2024, Uniqlo led China’s apparel market with 1,000+ stores. Target’s Brian Cornell, starting in 2014, unified its purpose, growing sales to $107 billion by 2024 with strong digital gains.

Retail leadership teams are not fit for purpose in a rapidly changing environment,”- Emma Herrod, World Retail Congress.

Borders, however, ignored e-books as they hit 20% of book sales by 2010, collapsing in 2011 due to inaction.

How to Lead Right

• Set a clear vision: Blake lifted Home Depot’s revenue 20% in three years.

• Stay agile: Joly’s omnichannel strategy reached 60% of Best Buy’s customers.

• Learn and adapt: Yanai’s pivot made Uniqlo a global leader.

• Inspire trust: Costco’s Craig Jelinek earns 90% trust from stakeholders.

• Innovate boldly: Cornell drove Target’s 10% digital growth.

Right leadership doesn’t just correct—it reimagines. It creates belief, builds capability, and drives transformation.

5. Rallying the Workforce: Igniting the Team’s Passion

“ Successful organizations prioritize their employees, recognizing that a motivated team is the driving force behind a vibrant and successful company.” - Peter Drucker

Great retailers know their workforce is the brand, thriving through inspired execution in aisles and interactions.

Wegmans, with 48,000 employees across 96 stores, invests $50 million annually in training—six months for full-timers—and $110 million in tuition reimbursement since 1984. Its 5% turnover rate, half the industry average, fuels $12 billion in 2024 sales and top customer satisfaction. No wonder they are the most employee-centric retailers in the USA.

Trader Joe’s empowers its 50,000-strong team with 30% above-average wages, part-time benefits, and hand-painted signage by artistic crew. With 80% internal promotions and 95% employee satisfaction, it hit $16 billion in 2024 sales. Trader Joe’s creates ownership and community

Nordstrom’s empowered staff make independent decisions, boosting loyalty by 15% in 2024. “We’re trusted to make decisions—that’s why customers love us,” said a Seattle associate.

Best Buy’s turnaround under Hubert Joly rebuilt morale with weekly store visits, training, and the “Renew Blue” initiative, reviving performance.

But not all retailers succeed at rallying their teams. JCPenney, once a mall anchor, became a cautionary tale. Constant CEO turnover and strategy whiplash left employees demoralized and confused. Training was inconsistent, incentives weak, and communication sporadic. The result: declining service quality, high attrition, and a collapse in sales—from $17 billion in 2011 to $6.9 billion by 2023. Morale faded, and so did relevance.

How to Rally the Workforce

• Invest in skills: Wegmans’ six-month training ensures excellence.

• Pay to retain: Trader Joe’s $20/hour rate cuts turnover.

• Build community: Daily huddles boost morale 20%.

• Empower decisions: Nordstrom’s autonomy drives loyalty.

• Lead visibly: Joly’s reset restored trust.

• 
  

Rallying the workforce sparks belief, reflected in every sale and customer interaction.

Here is the summary table:

Key Findings: Endurance Begins at the Top

“The first thing a leader does is facilitate connections between the organization and the outside world,”- Excerpt From: Rob-Jan De Jong. “Anticipate.” 

The success of Zara’s speed, Costco’s value, Best Buy’s turnaround, TJX’s resilience, IKEA’s sustainability, Home Depot’s revival, Target’s reinvention, Lululemon’s wellness pivot, and Wegmans’ workforce all hinge on leadership.

The 5Rs Framework—Relevance, Resilience, Reinvention, Rallying the Workforce, and Right Leadership—charts how retailers endure. Some excel in Relevance or Rallying the Workforce during growth, while Resilience and Right Leadership drive turnarounds. Reinvention often decides survival during disruption. These principles interlock: Right Leadership sparks Reinvention, Relevance grows with workforce purpose, and Resilience blends financial strength with culture.

“Companies need leaders who take risks for meaningful customer connections,” says NRF CEO Matthew Shay.

But one “R” consistently rises above the rest: Right Leadership. Great leaders don’t just manage operations, they translate vision into culture, align teams with purpose, and activate the other four Rs. Craig Jelinek at Costco, Pablo Isla at Zara, Hubert Joly at Best Buy, Frank Blake at Home Depot,, Calvin McDonald at Lululemon, Erik Nordstrom, and Colleen Wegman didn’t merely guide—they transformed, aligning vision with culture.

Right Leadership stands paramount. Agile leaders pivot, empower frontlines, and stay purpose-driven, unlike Sears, Circuit City, or Borders, whose leaders hesitated.  Leadership, not just strategy or culture, determines whether retailers endure or fade.

Conclusion: Enduring Retail Is a Choice, not a Coincidence

I want to keep learning so I can make UNIQLO better. Many businessmen fear the unknown, but not me. I embrace it. It is going after the unknown that continues to make this business an exciting one to be in. – Tadashi Yanai

Retailers don’t fail because change happens—they fail because they don’t adapt. Sears, Circuit City, and Borders faded by clinging to outdated models, proving legacy isn’t leverage.

Enduring retailers choose differently. They anticipate disruption, shape trends, and rely on bold leadership. The 5Rs—Relevance, Resilience, Reinvention, Right Leadership, Rallying the Workforce—define their success. Relevance demands customer obsession; Resilience prepares for turbulence; Reinvention is a mindset. Yet, Right Leadership anchors all, turning vision into action.

Best Buy’s turnaround, driven by digital transformation and empowered staff, redefined retail. Costco’s loyalty stems from simple, integrity-driven leadership. TJX thrives through disciplined execution and seasoned instincts.

Right leadership requires courage—to face truths, abandon outdated strategies, and rally teams. Enduring retailers act before crises, fostering agile cultures. Ultimately, the retailers that endure become more than brands. They become Lovemarks: loved by customers, trusted by employees, and impossible for competitors to ignore. The 5Rs are not just a framework; they are the line between companies that disappear and those that live forever in the hearts of their customers.

In retail, survival is not the endgame. Shaping the future is.

Trust us to get your leaders to be at their best!

Connect with us

Know your mentor