19843 Wed, 11/03/2010 - 5:06pm
With a new tagline “Modern. Southern. Style.” along with a new corporate logo and color palette, Belk looks to update its corporate identity to better reflect its restated mission statement, “to satisfy the modern Southern lifestyle like no one else, so that our customers get the fashion they desire and the value they deserve.”
With its 125th anniversary less than three years away, Belk began its re-branding process a year ago, and is the first time the company has done so since 1967.
“Our new brand clearly communicates what our company is today and what we aspire to be in the future,” said Tim Belk, chairman and chief executive officer. “We want to reflect our increased focus on meeting the fashion needs of our modern customers. While we will continue to meet the needs of our traditional and classic customers, we are changing our brand and expanding our assortments to attract new customers who are looking for modern, updated brands and styles.”
Belk plans to spend $70 million over the next 18 months on corporate branding and marketing, including $25 million for the installation of new logo signs in its 305 stores over the next year. Customers will start to see the new logo and identity elements in store displays and signage and newly designed charge cards will be issued. Starting this month the company will also launch television and print advertising, circulars, direct mail and social media to introduce the new identity.
“Much has changed in the South since our last branding initiative 43 years ago, and so has our company,” said Johnny Belk, president and chief operating officer. “We felt the time was right to expand our profile and realign our corporate image to better reflect the kind of stores we operate today. Re-branding happens only once in a generation, and our recent strong financial performance and balance sheet have enabled us to make significant investments in the company to position Belk for long term growth and success.”