This is,absolutely true .Rebranding is the same as,pivoting so when businesses do make that move it shows that their business IQ is high .

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Brand search is a strong signal, it's very important that people start searching for the new brand rather than the old. Extra marketing making sure that the new brand searches overtake the old brand searches is imperative!

If you're launching a completely new site design with the rebrand, it's gonna take a long time to recover, if you recover at all. Even if it's done incorrectly, a lot of customers who trusted the past brand will drop out.

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rebranding is completely showcasing your brand as a new brand with addition to some quality features in the previous one and the product in the whole process remains same.
There are some pros and cons for rebranding
Although it has a lot of benefits but it also come with a lot of challenges
To encounter these challenges you should goes with specific approach
Some issues for sudden traffic drop are as follows:
Site structure and site copy, redirection destablization...
If your traffic dropped as a result of one of the issues above, you should make it a top priority to remedy the problem as soon as possible. That being said, your traffic likely won't come back overnight. It may take a few weeks for Google to crawl and re-index all of your new pages, and until they begin ranking in search results again, your traffic will be lower than usual

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