Just saw an interesting post on Autoblog:
It references an Automotive News article in which the writer makes the case for BMW bringing back the Triumph name in the form of a small RWD coupe and roadster. He suggests that it could use the 1 Series platform and be sold through MINI dealers.
The autoblog post offers the opinion that this could cannabalize sales from the 1 Series. I don't believe it necessarily would assuming the Triumph were a light, two-seater with the 4-Cylinder MINI engine and a base price around $20k. In fact, it would allow BMW to compete more directly with cars like the Miata while not diluting the BMW brand. If positioned and marketed right, I think BMW could carve out a niche for the Triumph name. I would definitely be interested in such a car.
The only question is, could they sell enough to be profitable?