Brand: Walgreens, Walgreens Boots Alliance
Team: Straightline International
Context
After acquiring an almost $20 billion stake in Europe’s largest pharmacy and group purchasing organization, Boots Alliance, the Walgreens leadership team was faced with the monumental task of integrating the Boots, Alliance, Walgreens and Duane Reade brand portfolios. Seeking clarity and consistency across this wide variety of corporate, product and private brands was no easy task - they turned to our team to help organize and integrate the system of over 90+ brand entities, including a new corporate identity, name, and publicly traded stock symbol.
Insight
To ensure that all stakeholders and needs were accounted for, we knew we needed to provide structure, flexibility and rigor to our process. Working hand in hand with key members of the board of directors and heads of business units around the world, we designed a bespoke process to gather global input, primary research, operational data, and an assessment of brand equity that could guide decision making over these prized assets.
Results
29% increase in YOY Net Sales
24% increase in YOY Profits
Solution
Our process quickly determined significant value and fervent customer loyalty existed across flagship brands and product lines - from private brands like “Delish” and “No. 7” to the Boots and Alliance corporate brands. We recommended that the organization create a corporate brand that kept the names of all three entities, but included a new corporate identity and positioning that reflected the global nature and potential of the new company to investors.
Furthermore, we recommended integrating and expanding distribution of high equity private brands and product brands across the newly acquired entities under the existing brands, supported by proportional media and communications investment to grow stature. We then worked with the Walgreens digital and omnichannel teams to optimize these brands throughout the customer experience by integrating brand equity performance with shopper and UX data.
Following the adoption of our recommendations over the following year, the newly branded Walgreens Boots Alliance brand boasted a 29% increase in Net Sales, 24% increase in profits, and a diluted EPS double the year previously. They continue to expand operations globally through organic expansion and major acquisitions.
