It seems like every other car dealership is making a name change these days.
Take Speedway, for example. The famous car dealership in Atlanta, Georgia, has a history of changing its name, but it’s latest move might be its most interesting yet.
Just this week, they decided to drop the “-Speedway” from their name. This is a clear nod to their famous motto, “Speeds Way To Success.” It is unknown what changes, if any, they might make to their business in the future, but it’s clear that they have a new direction in mind. More on that in a bit.
Why Did They Change Their Name?
In September of last year, it was reported that Speedway was considering changing its name to “Infiniti Speedway.” Reports claimed that the Japanese car company was interested in acquiring a larger share of the American market. It was also noted that the famous Japanese car company had a poor reputation in the United States, which could be attributed to two major accidents involving Infiniti cars. It seems that their bad press wasn’t damaging their sales in the country, but it might have caused some confusion, especially among existing customers who were searching for the brand. Whatever the reason, it seems that the change was prompted by external forces, not internal ones.
What Will They Call It Next?
The new name, “Infiniti Speedway,” was said to be inspired by the luxury sportscar designed by the famous French car designer, Joest Lang. Essentially, it is a rebranding effort designed to appeal to a more upscale audience. It’s a wise move on their part; we have all heard of the rise of the self-made middle class, and they seem to be taking the lead in providing luxury travel options for the new millennial generation. The new corporate entity will be operated out of a 767,000-square-foot new headquarters in Atlanta, with plans to expand further into North Carolina and possibly South Carolina as well.
The new name is already being used for an Infiniti-branded retail store inside of a mall in Virginia. We will have to wait and see if this trend of rebranding continues, but it seems like it will.
Why Did They Choose Atlanta As Their Homebase?
When it comes to choosing a site for a business, there are a number of factors that you will have to consider. One of the major considerations is whether you want your business to be headquartered in a city with a high number of millennial consumers or whether you want a more traditional location. One of the biggest cities in the country for millennials is Atlanta, whose population is around 750,000. This makes it larger than the population of many smaller towns. In Atlanta, there are a number of tech companies, including Hootsuite and TwentyThree, as well as a couple of pretty large shopping malls.
What is interesting about these brands, aside from the sheer size of the city, is that they seem to be rebranding for a more exclusive audience. TwentyThree, for example, rebranded to “The Shop.” Some of the stores within these malls have also changed their names to appeal to a more upscale audience – including Lucky Brand, which became “Lucky Brand Mills”; and, of course, there is Infiniti’s own mall-based retail store, which opened in April of this year.
It seems that Atlanta is emerging as the “destination city” for a number of luxury brands, and it’s easy to see why. The city is close to the coast, which means that it has some of the best views of any city in the country. The population is also quite affluent, which means that it has a lot of potential customers for the luxury brands. Additionally, Atlanta has a lot of culture and history, which makes it an attractive location for any type of business.
Whether or not you choose to make your headquarters in Atlanta depends on a number of factors. If you want to appeal to a more upscale audience, then this is the place to be. If you want to reach more traditional consumers, then perhaps a more rural location would be a better fit.
How Will This Affect My Business?
If you are a business that sells luxury goods, then this change in branding can have an impact on your bottom line. In the past, if someone searched for “Speedway,” they might have been looking for the auto dealership, but now they might be getting a ticket to ride in a fancy car. The change in name should not have affected your business, as much as it might have affected theirs, but it’s always best to be prepared for the unexpected. You may lose some business as a result of this change, but you will gain others, which is always a good thing.
Make sure that you are keeping up with all of the latest news and legislation in your industry. The more that you know, the better position you will be in to take advantage of any trends or developments that emerge.