In 2023, TB12 closed its facilities in Boston, Tampa, Los Angeles, New York City, and Foxborough, where they sold fitness and wellness products that Tom Brady purportedly used to get him through 23 NFL seasons.
Starbucks Liqueur
Launched in 2004 with Jim Beam, Starbucks Liqueur was sold in restaurants, bars and retail outlets since Starbucks was not licensed to sell alcohol. It seemed like a natural match since nearly 50 percent of Starbucks patrons already consumed coffee liqueurs, more than nine times the national average.
A couple other failed experiments were in 1995, when Starbucks and Dreyer’s Grand Ice Cream developed Starbucks Ice Cream and in 1996 when Starbucks Frappuccino coffee drinks were introduced in partnership with Pepsi-Cola Co.
Facebook Workplace
In 2024, Meta shut down Workplace, a version of Facebook that had been built to enable communication among business teams and wider organizations. That marked the end of a ten-year run for the product, which peaked at 7 million paid subscribers. Meta found it too hard to compete against Slack and Microsoft Teams. It was also hard for them to be successful at B2B software while being a consumer company.
Kinney Shoes
From 1894 to 1998, Kinney Shoes peaked at 467 stores was the largest family chain shoe retailer in the United States. Specializing in reasonably priced shoes, it spun out Foot Locker in 1974 and had a partnership with the NBA.
Pringles Croc Shoes
Launched in 2024, the Pringles and Croc partnership “seamlessly combines the flavor-packed world of Pringles with the iconic comfort DNA of Crocs…Pringles’ first footwear collaboration delivers on what both of our brands do best, bringing ingenuity to fashion and flavor.”
Sharper Image
Launched in 1977 and closed in 2008, had 187 retail stores in 38 states with shelves stacked with high-end futuristic gadgets and electronics. But other retailers and huge online stores began to sell similar high-tech toys, often at a better price or with a click of a button.
Gatorade Water
In 2024, Gatorade launched its first unflavored water since consumers “expect Gatorade to meet all of their hydration needs.”
Synanon
Synanon, originally known as Tender Loving Care, was a new religious movement founded in 1958 by Charles E. “Chuck” Dederich Sr. in Santa Monica, California, United States. Originally established as a drug rehabilitation program, Synanon developed into an alternative community centered on group truth-telling sessions that came to be known as the “Synanon Game”, a form of attack therapy.
Described as one of the “most dangerous and violent cults America had ever seen”, Synanon disbanded in 1991 after several members were convicted of offenses including financial misdeeds, evidence tampering, terrorism and attempted murder.
The Synanon organization also developed a business that sold promotional items. This became a successful enterprise that for a time generated roughly $10 million per year.
Red Lobster
Founded in 1968, Red Lobster brought seafood to landlocked people at more affordable prices than fine-dining restaurants. In 2024, the debt-laden seafood chain announced it was considering filing for Chapter 11 bankruptcy protection. Red Lobster was bogged down by increased labor costs and expensive leases on its restaurants. Some of the financial woes are due to its decision in 2023 to make its “Endless Shrimp” promotion, which used to be an occasional, limited-time offering, permanent.
Red Lobster wasn’t losing to a competitor in their space — they’re were losing to competitors outside their space. People who are hankering for lobster or fish are increasingly going to steak houses that offer those options.
Yikes! Pencils
Released in 1993 since kids liked to customize their pencils with stickers or even their own inscriptions applied via thumbnail. The designer suspected wooden pencils that didn’t look like wood might have an appeal. They offered Yikes! pencils in a range of inventive colors though they were limited to black, orange, and pink at launch. The company also included a range of similarly themed erasers and a see through pencil sharpener so you could see the crazy pencil shavings.
However, the pencils were discontinued in 1996 since it was objectively terrible to write with a Yikes! pencil. The graphite smeared with a touch and the nifty polyurethane erasers didn’t erase. They just spread the graphite into a black blob. Yikes! pencils were a nightmare for homework worksheets in an era before digital copies.