• Forbes CMO Network, Tuesday, August 10, 2010 10:46 AM

Collective Brands CEO Matt Rubel knows a little something about reviving old brands. His company, Payless ShoeSource, did it itself when it acquired The Stride Rite Corp. and Collective Licensing International, along with a batch of "iconic heritage brands" such as Sperry Top-Sider, Keds and Stride Rite itself.

Rubel offers a four-point plan for all you do-it-yourselfers out there. 1. Create a Vision and Mission. The admittedly stodgy Payless, for example, rededicated itself to "democratizing fashion, design and the latest ideas in footwear and accessories for all to enjoy." 2. In-Depth Insight. Get into the heads and hearts of the customer to understand the key drivers of purchase intent.

3. Create the Roadmap. For example, Rubel's company repositioned the Keds brand as "America's Blank Canvas," launching an online sneaker customization tool, as well as the "Keds Collective" -- a collection of sneaker designs created by artists ranging from the stylist of "Saturday Night Live" to jewelry designers. 4. Storytelling. Bring the brand essence to life through words and visuals in a range of media, including traditional advertising, online, PR, direct, digital, social media and retail, where consumers are able to interact directly with the brand.

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