25 January 2018 | News
The magazine released their annual rankings, narrowing down a selection of 680 companies in 52 industries.
Fortune magazine has named Starbucks the fifth most admired company in the world, the highest ranking for any company that deals primarily in food and beverages. The magazine released their annual rankings, narrowing down a selection of 680 companies in 52 industries. Apple took first place, with Amazon in second, Alphabet in third, and Berkshire Hathaway in fourth.
According to a press release, the results are determined by “surveying thousands of executives and securities analysts about the corporate reputations of about 1,500 companies — the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies in Fortune's Global 500 database with revenues of at least $10 billion.”
While Starbucks earned the highest ranking among companies that strictly provide food services, Amazon is also no stranger to food. The all-everything internet retailer made a giant move into the food industry in 2017 with its $13.7 billion acquisition of Whole Foods and has long been a major player in delivery services for groceries, prepared food, and beverages.
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 ten. With Starbucks taking major steps toward sustainability, and secret cold-curing menu items it’s no wonder they’re one of the most admired brands.