A Look At Some Of The World’s Most Expensive Logos.
The art of logo design calls for a delicate balance between simplicity and creativity. A logo, especially a good one, should have the ability to clearly convey a brand’s identity in the matter of seconds as it often is what stays at the front of the customers’ minds. In the world of branding, a logo can be worth more than one can imagine, but are the world’s most expensive logos really worth their hefty price tags?
The High Price of an Iconic Logo Redesign: BP's $5.72 Million USD Makeover
Although there is no standard price for logos, there have been some interesting stories with the more expensive logos to have been created. One of the more well-known being BP’s story. BP is a British multinational oil and gas company headquartered in London, England, and is one of the world’s biggest oil companies. In 2000, BP swapped out the BP shield that had stood for the company for 80 years for a sunflower-like logo designed by Landor Associates. The colours used in the logo are used to represent the company’s dedication to being more “green”. It was reported that it cost $5.72 million USD to design the new BP logo, while the overall cost of the rebrand came in at $211 million USD. Since this rebrand, the company repositioned itself from ‘British Petroleum’ to be ‘Beyond Petroleum’, consistently trying to explore ‘new ways to live without oil’. From the 2000 to today, BP’s brand awareness and public reception have shot up. In a poll of UK marketers BP was even rated as one of the top 10 green brands and it could not have been done without this rebrand.
BBC's $1.8 Million USD Investment in a Unified Brand Identity
The British Broadcasting Corporation (BBC) logo, which was redesigned in 1997 by Lambie-Nairn, came with a price tag of $1.8 million USD. The new design simplified the previous logo, featuring three white, uppercase letters "bbc" enclosed in black squares. In the 1990s, the BBC network was growing but every TV channel, radio station, programme and website had its own logo and tone of voice, they were in dire need for something that could bring together hundreds of products and services under one banner. The hefty investment in the logo redesign was justified by the need for a consistent and recognisable brand identity across all of the BBC's platforms, including television, radio, and digital media. The clean, modern logo has since become synonymous with the BBC and its commitment to quality journalism and entertainment.
Xiaomi's $300,000 USD Logo Redesign: A Reflection of Its Inner Spirit
Image Credit:VICE News
Image Credit: art4d
Chinese tech giant Xiaomi, known for its smartphones and other electronic products, spent $300,000 USD on its recent logo redesign. The new logo, designed by renowned designer Kenya Hara, features a slightly rounded square with the company's name written in lowercase letters. The reason behind Xiaomi's investment in its logo is the company's rapid growth and global expansion. Designer Hara said, “the new logo is not a simple redesign of the shape but an encapsulation of Xiaomi’s inner spirit” of being ‘alive’. The minimalistic and modern design reflects Xiaomi's focus on innovation and quality, helping the brand establish a strong identity while also generating media buzz at the time, rendering it a very-well executed branding move.
Here’s What We Think.
We believe that the process of arriving at a top-quality logo takes time and talent. The price also comes down to how much a business is willing to invest in its own brand. Moreover, the price tag should be dependent on the size of the organization, as its footprint and touchpoints are also crucial considerations.
Overall, we think that a logo is more than just a collection of colors, shapes, and letters; it is a company's calling card that can cross cultural and linguistic boundaries to communicate your brand instantly. The fact that a brand is not a logo and a logo is not a brand must be emphasized in light of the foregoing- Crafting a brand takes time, consistency, and patience. If done right, a brand can shift perceptions, mobilize teams, and build loyalty. Most importantly it can transform a business’s success.
So what do you think about the logos we just mentioned? Do you agree with their hefty price tags?
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