Fortune magazine names Starbucks most admired food, beverage company
Fortune magazine has named Starbucks the fifth most admired company in the world, and the top-ranking food and beverage company.
Fortune magazine has named Starbucks the fifth most admired company in the world, and the top-ranking food and beverage company. The magazine collaborated with global management consulting firm Korn Ferry on the survey of corporate reputations. It began with a universe of about 1,500 candidates—the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies in Fortune’s Global 500 database that have revenues of $10 billion or more. That list was then winnowed down to the highest-revenue companies in each industry, a total of 680 in 29 countries.
To determine the best-regarded companies in 52 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. A company’s score must rank in the top half of its industry survey to be listed.
Starbucks has appeared on the global list for the past 16 years, and this year is the only stand-alone retail business to break the top 10. Coca-Cola was the only other food and beverage company to be ranked in the top 25, coming in at No. 18. The other food and beverage companies that made it into the top 50 were McDonalds (37), PepsiCo (41), Unilever (44), and Nestlé (47).
Apple took first place, with Amazon in second, Alphabet in third, and Berkshire Hathaway in fourth. While Starbucks earned the highest ranking among companies in the foodservice category, Amazon is no stranger to food, having been a major player in delivery services for groceries, prepared food, and beverages. And then the internet services giant bought Whole Foods last year for $13.7 billion.