For many people, the crisis time in the country becomes a collapse of hope, pushes to despondency and desperate search for a new job. But for some people and entire companies, the crisis becomes the magic kick that makes you move forward and ultimately leads to prosperity and wealth.
Here is a list of 10 world famous companies that have been successful during crises.
10. FedEx
It is curious that initially, FedEx, formerly known as Federal Express, was focused on organizing the movement of money supply between banks of the Federal Reserve System. However, nothing came of this venture.
And then the crisis of 1973 came when oil prices, followed by gasoline in the United States soared 4 times. In such circumstances, making long trips was expensive, and ordinary Americans needed a service that would ensure uninterrupted and affordable door-to-door delivery of goods.
While still a student at Yale University, Frederick Smith developed a project according to which one logistics company is responsible for the cargo from the recipient to the addressee, delivering it with their own airplanes and vans, and placing them in their own warehouses. It was this idea that “shot” in 1973, making Smith one of the kings of logistics services, first in the United States and then abroad.
9.3M
One day, a butcher, a lawyer, a doctor, and two railway leaders gathered to extract corundum as an abrasive. So began the story of the American company 3M.
And although it didn’t work with corundum (it was not in the breed that was originally developed), the abrasive company still let out before the start of the Great Depression. And then this direction was replaced by a product that brought 3M worldwide fame. Transparent adhesive tape.
In the context of the World Depression, Americans used scotch tape for a variety of things - from repairing toys, furniture, windows, and even clothing to reinforcing book binding and gluing torn paper. The new product sold so well that in 1932 the company reoriented itself mainly to office supplies. In the piggy bank 3M inventions also include: slide projector, color copier, disposable respirators and 3D scanning technology for the oral cavity.
8. Grundig
The real success came to the small company Grundig after World War II. The Germans simply did not have money to buy new equipment. It was here that the talented entrepreneur Max Grundig offered his compatriots the service of repairing devices that were extremely popular at that time - radio receivers.
And in order to circumvent the tax on the production of radios, the Heinzelmann designer (translated from German - brownie) began to produce, from which everyone could assemble the radio independently.
Gradually, the Grundig product range expanded, the company became the largest supplier of tape recorders in Europe, and then switched to such consumer electronics as televisions and video recorders.
And although the further history of Grundig is far from the success of the 50-60s, this company will remain one of those that have successfully risen to the post-war ruins and left behind a lot of good inventions.
7. Wikipedia
The famous online encyclopedia appeared on the Internet during the so-called "dotcom bubble", which lasted from 1995 to 2001. Its consequence was the collapse of the NASDAQ index, caused by rampant marketing costs for Internet startups.
In 1999, Jimmy Wales decided to create a large-scale Internet encyclopedia with free content, which will be written by enthusiasts, with the ability to make edits in real time. The multilingualism of Wikipedia, the ability to write about almost everything in the world, and the quick editing of articles quickly made the project very popular.
Wikipedia was launched in 2001, just as the dot-com bubble burst. And at the moment it is the most popular online directory in the world.
6. Burger King
This company managed the almost impossible - to become the second largest fast food chain in the world, while competing with fast food giant McDonald’s.
Burger King brand appeared in 1954, shortly before the start of the Eisenhower recession - the economic crisis caused by high loan rates, falling demand for cars and curtailing real estate construction projects. The new chain differed from McDonald’s in an exclusive approach to customers: they were allowed to choose some ingredients for a sandwich, for example, cucumbers or spices.
The first “wapper” of the company was created in 1957, sold for 37 cents and has since been the “calling card” of Burger King. This company was also one of the first to collaborate with major film companies. Of course, to sell products with their symbols. For example, in 1977, she sold sets of glasses depicting the heroes of Star Wars. Would you like to buy such a kit, dear readers? I am.
5. American Tourister
Here is another example of a successful company that managed to earn during the crisis - in this case, the Great Depression in the United States. It was a time when millions of Americans were removed from their homes and moved in search of work.
In these conditions, inexpensive and durable suitcases were needed. These are the ones that American Tourister produced (and nowadays). Its products can be bought even in Russia.
4. LEGO
The Great Depression, which began in 1929, hit not only the United States, but also Europe. She also touched Denmark, where Ole Kirk Christiansen, the creator of LEGO, lived. At first, Christiansen and his employees produced ironing boards, stools, and other wooden products, but there was little demand for them.
Then the idea of making wooden toys came to the head of an enterprising Dane, hence the name of his brainchild - leg godt (“play well”).
A breakthrough in LEGO activities came in 1949, when the first plastic snap-on cubes appeared. Since then, LEGO designers have been one of the most beloved entertainments for children of all ages. And even many adult collectors are happy to get unusual LEGO products, for example, the largest collection of LEGO Star Wars.
3. Pepsi
Pepsi, founded at the end of the 19th century by pharmacist Caleb Bradham, did not survive the rise in sugar prices that happened in the United States in 1923 and went bankrupt. The Pepsi trademark and sugar syrup recipe was bought by businessman Charles Gout, and this happened during the Great Depression.
How did the new drink win the hearts of Americans, who during one of the largest economic crises often had nothing to eat? Cheap. A 12-ounce bottle cost 5 cents - the same as a 6.5-ounce Coca-Cola bottle. Coca-Cola could not lower the price, since there were about a billion bottles left in the warehouses, and vending machines accepted only 5 cents coins.
Since then, Pepsi and Coca-Cola have vied with each other for the title of world leader in the carbonated drinks market.
2. Panasonic
The former Matsushita Electric, and now Panasonic, has shown by its example that capitalism does not have to be with an animal grin.
When the Great Depression reached Japan and led to mass layoffs, the owner and founder of Matsushita Electric did not dismiss his employees or close the company. He ordered to halve production, cut the working week, but did not fire any of the employees and did not cut their salaries. Instead, he asked workers to sell goods in stock.
As a result, the stocks of Matsushita Electric products were successfully sold, the company retained all its personnel and passed the threat of financial disaster.
1. Korkunov
The list of well-known companies that became only stronger during the crisis is headed by the brainchild of Russian businessman Alexander Korkunov. His confectionery factory, built in the city of Odintsovo, opened in the midst of the financial crisis of 1998-1999 in Russia.
Despite the difficult situation in the country, the Korkunov factory did not go bankrupt, thanks to a bold decision - to enter the premium chocolate segment. The lack of competitors and low advertising prices during the crisis allowed Korkunov to control 57% of the expensive chocolate market in Russia. In 2007, 80% of the company was acquired by Wrigley. The deal amounted to 300 million dollars.
