{"id":36527,"date":"2022-01-18T14:52:59","date_gmt":"2022-01-18T01:52:59","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=36527"},"modified":"2022-01-18T14:52:59","modified_gmt":"2022-01-18T01:52:59","slug":"goodbye-purplebricks-name-disappears-in-rebrand-watch","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/goodbye-purplebricks-name-disappears-in-rebrand-watch\/","title":{"rendered":"Goodbye Purplebricks – name disappears in rebrand | WATCH"},"content":{"rendered":"

PHOTO: Purplebricks<\/strong><\/p>\n

The name of Purplebricks<\/a> – which once claimed its business model was a global success – has now been removed in its only surviving international territory.<\/p>\n

Purplebricks Canada has, from a few days ago, been rebranded as FairSquare Group Realty – with the Purplebricks name, logo and colour scheme expunged.<\/p>\n

In July 2020 the UK-based Purplebricks Group sold its Canada operation for some \u00a335m, in a bid for cash to bolster its UK activities.<\/p>\n<\/article>\n

This was precisely two years after Purplebricks Canada was set up via the acquisition of local online agency DuProprio\/ComFree for just over \u00a329m.<\/p>\n

At the time of the 2020 sale of the Canadian operation – to international financial services firm Desjardins – it was the end of Purplebricks\u2019 ambitions to become a global brand.<\/p>\n

The disposal in 2020 also ended a significant financial burden as the Canadian business suffered an adjusted operating loss of \u00a32.8m for the 10 months to\u00a0April 2019 and the book value of its gross assets in October 2019 was \u00a311.4m.<\/p>\n

The sale in 2020\u00a0included the rights for Desjardins to use the Purplebricks brand in Canada for a transitional period until December 2021.<\/p>\n

Now that period has ended and the agency has become FairSquare Group Realty, thus finally ending any form of Purplebricks activity or branding outside the UK.<\/p>\n

https:\/\/www.youtube.com\/watch?v=n_0QlEWvJV4<\/p>\n

Pascal Laflamme, president of FairSquare Group Realty, is quoted in Canada\u2019s Real Estate Magazine as saying: \u201cThat\u2019s why we needed to rebrand from Purplebricks. When we rebranded \u2026 to Purplebricks it wasn\u2019t the choice of the business, it was the choice of the shareholders because they wanted to create that global brand. And I felt the marketing, the messaging also, wasn\u2019t perfectly adapted to the Canadian reality.\u201d<\/p>\n

He says FairSquare is \u201ca brand that we feel reflects who we are as a business and how we want to be perceived by the customers.\u201d<\/p>\n<\/article>\n

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https:\/\/www.instagram.com\/p\/CY1zfv8huRE\/?utm_source=ig_web_copy_link<\/p>\n

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