BUSINESS SPECIAL ..........THE BIGGEST BUSINESS COMEBACKS OF THE PAST 20 YEARS (4)

THE BIGGEST BUSINESS COMEBACKS OF THE PAST 20 YEARS (4)

12.  Netflix

The announcement went out in the summer of 2011: "We will no longer offer a plan that includes both unlimited streaming and DVDs by mail." Subscribers would have to join two separate services—one of them ludicrously dubbed Qwikster—and pay $16 a month instead of $10. The ensuing backlash and exodus stunned investors; more than 800,000 customers fled Netflix in a single quarter, sending its stock plunging from $300 a share to around $65 by year’s end. Net­flix quickly scrapped Qwikster and apologized, but the company only truly recovered from the gaffe with original series such asHouse of Cards, which launched in 2013. Soon profit was skyrocket­ing, stock hit $400 per share, and Amazon and Hulu were working furiously to catch up.

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13.    Disney Animation

Disney may be the best-known name in children’s entertainment, but its once-revered animation division began the 21st century in a major slump. After ’90s successes such as The Lion King, the ­studio started churning out duds like Hercules and Fantasia 2000. The result was a major downsizing in the early 2000s. But after Disney acquired Pixar in 2006 and Ed Catmull and John Lasseter took charge, the studio roared back with hits like Tangled and last year’s world-­­dominating Frozen.

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14.   Burberry

Nobody expected the fusty Burberry to survive the storms of the modern fashion marketplace. Credit two American executives with reviving the British brand: Rose Marie Bravo and Angela Ahrendts (who now runs Apple’s retail division). As CEO from 1997 to 2005, Bravo brought in designer Christopher Bailey. He and Bravo’s successor, Ahrendts, took the turnaround from there, deftly blending updates of the old (that traditional trench coat, that familiar check) with an embrace of the new (social media, aggressive China strategy). That led to an unprecedented resurrection, record financial results, and acclaim for a fashion house that is once again a luxury trendsetter.

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15.                       Lego

"Everything is awesome?" Not for the toymaker in the 1990s, when Lego was suffering due to the rise of video games and other competition. In 1998, the company lost money for the first time. Then Jørgen Vig Knudstorp stepped in as CEO in 2004, and things started to snap into place. Knudstorp cut costs and introduced soon-to-be-popular Lego lines like Ninjago. It worked: By 2013, Lego was the world’s most profitable toymaker.

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16.                    Target

It used to be just another big-box value store, but in the 2000s, Target rethought its image, luring higher-end customers with surprising partnerships (Isaac Mizrahi, Missoni, Lilly Pulitzer) and slick ­marketing. That new ­strategy—matched with a rapid expansion—transformed Target into Tar-zhay: a mass-appeal retailer that could deliver everyday needs in style. By 2005, Target had reached $50 billion in annual sales.

BY FAST COMPANY STAFF

http://www.fastcompany.com/3042431/meme/the-biggest-business-comebacks-of-the-past-20-years