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The only times I can think of where a re-branding exercise has worked well, have been where the brand started off in the mud and they fixed their image rather than the name.

Specifically, Skoda — and when they did the transition, their adverts were very much aware of the need for an image change: https://www.youtube.com/watch?v=ZWTJ_TPraLQ

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It was before most of our times, but I don't think the Esso brand was "in the mud" when they rebranded to Exxon and that seems to have worked out ok for them.

Skoda did not have that bad an image, their pre-VW cars were very sucessful at rallying.

That ad is from them, by them, and about them. And it matches what everyone in the 90s was telling me about them.

"Have you heard about the new 16-valve Skoda? It's got eight valves in the engine and eight in the radio."

"How do you double the value of a Skoda? Fill the fuel tank."

Etc.

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