A brand that alters their target audience for the sake of "rejuvenating the brand" sacrifices their brand identity and values - not to mention their integrity.
Revamping a brand and recruiting new customers should not mean shifting core values.
It also shows a lack of understanding of consumers. Assuming that everyone within a specific age category holds the same interests and opinions is a sweeping generalisation.
Brands obsessed with targeting millennials are blinded by the regenerative connotations of youth. The truth is anyone can develop brand affinity at any point in their life.
If a brand is tired, instead of desperately searching for a fountain of youth to rejuvenate itself, it should seek creative re-branding alternatives that match up and appeal to its core consumers.
All of us in marketing understand the critical importance of recruiting new customers – even the best of brands is a leaky funnel, and the biggest brands are built on the backs of legions of light buyers. But we in marketing also have a certain fixation on youth. Millennials (put roughly, those born between 1980 and 2000) are the prime suspect at the minute because from where we sit in London, it seems like they’re reaching their prime consumption years.