A good that has been renamed to be sold at a higher price

According to Wikipedia:

The name "Chilean Seabass" was invented by a fish wholesaler named Lee Lantz in 1977. He was looking for a name that would make [the toothfish] attractive to the American market. He considered "Pacific sea bass" and "South American sea bass" before settling on "Chilean sea bass".[3] In 1994, the U.S. Food and Drug Administration (FDA) accepted "Chilean Seabass" as an "alternative market name" for Patagonian toothfish,[3] and in 2013 for Antarctic toothfish.

I imagine there is a word or phrase that isn't as formal as "alternative market name" for the process of taking an unappealing product, giving it a fancy name and jacking up the price, but nothing comes to mind.

Solution 1:

The practice you are referring to is called rebranding:.

• a marketing strategy in which a new name, term, symbol, design, or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders.

(Wikipedia)

Solution 2:

The good in question has been repackaged (presented in a new way, typically to make it more appealing).

M-W:

repackage transitive verb

:  to package again or anew; specifically :  to put into a more efficient or attractive form

Large pieces of meat are cut and repackaged at the butcher's shop.

dictionary.com:

repackage

verb (used with object), repackaged, repackaging.

3. to remake or alter so as to be more appealing or desirable:

That politician's image needs to be repackaged.