6 Famous Brands That Lost Its Magic

4. Volvo

Volvo was long thought of as the typical safe and approachable vehicle. Volvo was never considered to be a giant manufacturer with a large number of models or ultra high-end brands. As of now, its market share had dropped to 0.3 percent.

Volvo competes with way too many car brands. The Swedish manufacturer is in direct competition with mid-luxury cars, like Toyota and General Motors, while also finding itself up against lower-priced high-end cars from Mercedes and BMW. Therefore, the demand for Volvo has suffered.

5. Olympus

Except for market leaders like Canon, Sony and Nikon, no one wants to be in the digital camera business anymore. It is no surprise then that Olympus, which only has 7 percent market share, has failed to generate a profit from its imaging business in any of the past three years. Actual sales were less than two-thirds of forecasts.

Olympus expects compact camera unit sales to fall from 5.1 million to 2.7 million units worldwide. But these declines are hardly a new trend. A major reason for declining sales has been the increased adoption of Smartphones which now offer lenses and chips that capture high-quality images as an alternative to digital cameras.

6. Crocs

Crocs have since expanded into flip flops and wedges. The consumers still associate the brand with the porous rubber clogs that made it a household name. It went public in 2006 for the first time as the largest IPO for a footwear firm in history; the company's shares are now worth about a fifth of what they were in their glory days. Despite Crocs' brand recognition for amphibious footwear, the company says its iconic clogs now account for less than half of its footwear sales.

Earlier this year, Blackstone invested $200 million in the footwear company, which Crocs said stems from the firm's recognizing "the tremendous opportunity in the Crocs brand and global franchise."