Iconic Brands and Products To Get Ahold Of Now Before They Disappear

Established: 1924
Status: Revenue declined 3.3% from 2012-2017*  

There was once a time in America where the romance of breakfast emanated from the cereal box. There was a certain kind of joy, a spark, a shimmer of hope that your day would be a great day when you cracked open a fresh box of cereal. Wheaties was an iconic brand known particularly for featuring prominent athletes on the boxes. 

Wheaties @generalmills / Twitter.com

Sadly, cereal has taken a downturn as yogurts, eggs, fancy granolas, and all sorts of other pre-made breakfast bars saturate the marketplace. Small brands of local organic hand-made food products have taken the place of long-standing iconic cereals. 

That doesn’t mean that General Mills’ Wheaties isn’t still a beloved institution. It just means that it hasn’t kept up well with the times, falling behind when compared to its competitors. Although its revenue declined by 3.3% over a space of five years, General Mills did report a growth of 5% from 2019 to 2020.

Established: 1869
Status: 2019-2020 Revenue operations slipped 1%*

No matter what happens to the Campbell Soup Company, one might consider that it had quite a good run for the past 150 years of being an iconic American food business. Founded in 1869 by Joseph H. Campbell, the New Jersey company became one of the biggest food companies in the world by the 1950s.

Campbell's Soup ©calimedia / Shutterstock.com

Many think of Andy Warhol’s famous Campbell Soup Can paintings and screenprints, but few people know that Warhol made this collection because he wanted to make a statement saying, “I think art should be for the mass of the American people.” Sales have been steadily decreasing in recent years but have actually seen an uptick as people stock up on dry goods. The company was up 17% in Q3 2020.

This rise in sales goes to show that a decline in sales doesn’t necessarily mark the end for a brand. If the climate changes, sales can change too, but it can be down to chance – or in this case, a global pandemic that saw people stockpiling food to be on the “safe side.”

Established: 1919
Status: Closing down after 84 years 

Olympus Cameras’ problems started well before the coronavirus hit. The iconic camera company has been in business for more than eight decades, featuring some of the shutterbug industry’s most famous lenses and camera brands.  Olympus announced just last week that it was going to exit the camera business.

Olympus Cameras ©Pere Rubi / Shutterstock.com

Over the past three years, Olympus has steadily lost profits. After going over 1,000 days without making a profit, Olympus threw in the towel. Fans of Zuiko lenses and OM-D cameras need to snatch up their favorite brands (probably for a discounted price) before Olympus cuts its camera subsidiary loose.  

Despite having competition from other well-known companies like Kodak and GoPro, Olympus managed to hold its own in the industry for quite some time. Sadly, all good things must come to an end. The closure of Olympus certainly marks the end of an era for many long-standing fans of the products.

Established: 2002
Status:  Filed for bankruptcy April 13th

If there is one sector of the market with a declining public interest in times of a global pandemic, it’s high-end designer blue jeans. People just aren’t into the idea of spending $150 bucks on jeans these days. That makes it difficult for a brand that sells $150 jeans to survive. 

True Religion Jeans @jokottenweb / Twitter.com

True Religion filed for bankruptcy once a couple of years ago, and again in April 2020 as a result of the pandemic. The denim brand has stores in 26 states and can also be found within department stores. Better get yourself some of these holier than thou jeans while you still can. 

True Religion isn’t the only clothing brand that’s taken a hit in recent times, with many stores forced to close while the pandemic played out in the early stages. Several big chain department stores like Macy’s, and smaller companies alike have all announced financial problems due to unforeseen circumstances caused by the pandemic.

Established:  1934
Status: Closed 50 branches*

Steak ‘n Shake makes Steakburgers. In fact, they say they are “Famous for Steakburgers.” What is a Steakburger you ask? Is it a steak or is it a burger? Well, it’s a burger. But because it is made from premium ground steak, they call it a Steakburger. These thin crispy burger patties are beloved by diners in the midwest and southeastern portions of the United States. 

Steak 'n Shake Steak 'n Shake @steaknshake / Facebook.com

Sadly, Steak ‘n Shake announced the closure of fifty US stores in May 2020. The Coronavirus knocked out quite a bit of revenue for the company, which is owned by Persian-American investor Sardar Biglari, who also owns a large portion of the kitschy roadside diner chain, Cracker Barrel.

Biglari started eying up Cracker Barrel back in 2011 after he initially purchased Steak ’n Shake. Over the course of the next two years, he bought a whopping 4.7 million shares, costing him $241 million. Thankfully for Biglari, Cracker Barrel is still going, even if Steak ‘n Shake is faltering.

Established: 1965
Status:  1000 stores closed in 2019, further 10% closed in 2020*

Hear ye, hear ye! Get your footlongs while you can! Although Covid-19 certainly took its toll on Subway, The US-based submarine sandwich franchise has been struggling over the past few years. Most of Subway’s troubles have to do with franchise owners being frustrated with how the corporate heads are running the company.

Subway @subway / Facebook.com

Compared to other fast food options like McDonalds, Subway has always been touted as a healthier option for those wanting to watch their waistlines. Of course, whether it’s actually a better option depends on what you order and how many times a week you order it!

With 1,000 stores closing over the course of 2019, Subway continued to face further problems in 2020, closing a further 10% of remaining locations. The devastating impact of the pandemic hasn’t been seen in full force yet, so would Subway be one of the first once-popular chain eateries to go?

Established: 1996
Status: Brand Value down -34% 2020 Vs. 2019 *

With 80% of its stores and operations closing due to the pandemic, Under Armour previously announced they are expecting their revenues to go down by more than 50%. It’s hard to imagine such a sportswear giant struggling. Even with huge brand ambassadors like Stephen Curry and Tom Brady, the brand must fight to succeed in today’s rapidly changing climate. 

Under Armour @UnderArmour / Fcaebook.com

The brand was first established in 1996, so while it isn’t an age-old institution it’s still well-established and gargantuan in its field. Sadly, Under Armour has been struggling for a few years, reporting a fourth-quarter loss of $88 million in 2018. 

2020 could’ve been the year everything turned around for the brand, but unfortunately, life had other plans. With the business leaking money at this fast of a rate, is it likely to recover as time progresses? The company began working on actioning plans that will lessen costs and help “cut out the middleman” in 2021, in an elaborate new strategy.

Established: 1876
Status: Down 3.7% in 2020*

There is no beer brand considered more American than Budweiser. But did you know that the Anheuser-Busch company was founded by two German immigrants in 1852?  Of course, we know it soon became an iconic American brand, but now it is actually owned by the Belgian-based company, InBev.

Budweiser @BudvarUK / Twitter.com

What goes up, must come down, and the fact of the matter is younger generations are turning 21 and saturating the marketplace, but they don’t seem to be into the classic American pale lager. They prefer hoppy craft beers and alcoholic seltzer. 

Even if millennials and gen-z teens aren’t looking to other, more “hip” beers, they could be spending their money elsewhere. With the focus on clean-eating still popular, cleaner spirits like vodka and tequila are chicer than ever, with distillers taking home $6.6 billion in revenue for vodka in 2019 alone. As for InBev, the company reported that revenue was down 3.7% at the end of 2020.

Established: 1897
Status: Sales drop of 26% from 2013 to 2018*

Let’s face it. People just don’t eat Kraft’s Jell-O like they used to. What was once a go-to after-school snack has faded into obscurity thanks to the saturation of the snack market and the war against sugar as the health food craze rages on.

Jell-O @JELLO / Twitter.com

Kraft’s Jell-O rose to popularity during the great depression as it was an affordable, easy-to-make treat that provided some joy in a time of despair. Sales also skyrocketed during WW2 and in the years that followed. But by 2009 sales began to fall sharply. They declined by double digits, falling from $932.5 million to $692 million by 2014. 

Jell-O’s only saving grace might be how cheap it is to make, which is probably why Kraft is still continuing to produce it. If it does disappear from the shelves entirely it would be a huge blow to Jell-O lovers everywhere, even if they don’t buy it anymore.

Established:  1932
Status: Emerged from bankruptcy in May 2020*

You might think the success of the midwest brand, White Castle, which was made extra-popular by the film, Harold and Kumar Go to White Castle, led to a decline in the other, “little burger,” chain, Krystal. But did you know that Krystal is considered the “White Castle of the South?”

Krystal @Krystal / Facebook.com

Krystal isn’t as big as Restaurant Brand International’s Burger King, but it has long been an iconic late-night stop for southern American youth. But in recent years sales have suffered dramatically and the company filed for chapter 11 bankruptcy protection in January of 2020. 

The chain has been around since 1932 and certainly isn’t a flash in the pan when it comes to fast food. Although it reached its peak with 420 locations in 11 states back in 2002 under the ownership of Port Royal Holdings, restaurant numbers decreased and increased over the next two decades. Krystal was eventually sold to one of its lenders and emerged from bankruptcy in May 2020.

Established: 2015
Status:  Discontinued in January 2020

In 2015, Sony Playstation launched their own streaming network called Vue as an attempt to catch the wave of live  TV streaming apps. However, they simply could not compete with other big-timers like Sling and YouTube TV. Subscribers were left to find their own new services.

PlayStation Vue ©Tom Eversley / Shutterstock.com

Another reason cited in the failure of Sony’s Playstation Vue is the fact that they were too slow to launch their platform on other streaming devices besides their own Playstation product. They eventually rolled out onto platforms like Apple TV and Roku, but it was too late. 

“Unfortunately, the highly competitive Pay TV industry, with expensive content and network deals, has been slower to change than we expected. Because of this, we have decided to remain focused on our core gaming business,” explained Sony’s Interactive Entertainment President, John Kodera via a statement announcing the discontinuation of the service.

Established: 1966
Status:  Revenue dropped 6% from 2019-2020*

Also amongst the list of fastest declining US brands is VF Corporation’s The North Face, a high-end sportswear and outdoor gear company.  Although many apparel brands saw a massive decrease in sales at the beginning of the Covid-19 pandemic, North Face claims they are seeing an uptick in sales now that warmer weather is approaching and national parks are re-opening. 

The North Face ©ayhanmustafa / Shutterstock.com

The North Face founders Doug and Susie Tompkins built their brand from the ground up. In 2000, they sold the company to VF Corporation for an estimated $25.4 million dollars. VF also owns many other apparel brands including Vans, Timberland, and JanSport.

That being said, it seems like VF isn’t likely to go bankrupt any time soon as it has numerous feathers in its cap. On the whole, VF is worth an estimated $26.58 billion. That’s a lot of money that helps weather a storm as big as a global pandemic, but nothing is certain in this game. The company announced a revenue drop of 6% at the end of 2020, even though they have an impressive portfolio of brands.

Established: 1903
Status: Sales down almost a quarter in 2020 from 2019*

Vroom vroom vroom, do you hear that Harley coming down the street? Can you feel its rumble beneath your feet? Oh, you don’t? Maybe that’s because, unless you’re in Daytona Beach, FL,  there aren’t nearly as many Harleys out and about like there once were. 

Harley Davidson @MoreMotorcycles / Twitter.com

Sales have dropped dramatically the past few years along with motorcycle sales in general in the US. There is less of an interest from young people. They just don’t seem to want to ride these {{ Harley hogs anymore. Sales have dropped for the past 12 years consecutively, but the company is still holding on to its handlebars for now. 

Seeing a brand as prominent as Harley Davidson disappear would be a travesty considering how it’s a pop-culture staple in America and beyond. Despite the decline in sales, we’re still likely to see Harley’s stick around for a while yet. However, it might be a different story if this trend continues.

Established: 1977
Status: US Sales dropped by 40% from 2014-2018*

Let’s face it, we live in a world where looks matter. People are always going to be trying to look better, feel better, and stay healthy, often looking for the quickest, cheapest way to do so. Throughout the eighties and nineties, SlimFast was one of the top-selling dieting drinks in America, available at stores like Walmart.

SlimFast @SlimFast / Twitter.com

But the rapidly changing landscape of new fitness and diet trends has made it difficult for SlimFast to keep up. They sold the company to Unilever in 2000 and it has gone through a series of changes since then. Currently, it is marketed as SlimFast Keto.

Although the idea to latch onto the keto trend is admirable, is it enough to revamp the brand and help boost sales? Many low-calorie meal replacement diets are facing the wrath of nutritionists everywhere. With more information readily available than ever before, SlimFast just doesn’t seem as appealing as it once did.