Forget Startups. Maybe The Most Adaptable Companies Are Those That Last Centuries

Modern humans are an impatient species. We groan about a five-minute checkout wait, roll our eyes when websites fail to load instantly, and regularly risk our safety speeding to beat red lights.

People who follow startups are a particularly restless bunch. For us, it feels like an eternity since the tech IPO market was a happening place. (In reality, it’s been about three years.) When a startup hasn’t raised a new round for a few years, we’re quick to speculate about its impending demise.

Sometimes, we forget that building a lasting business can take an exceedingly long time. And yes, many do get better with age.

In reality, hundreds of well-known, successful organizations and brands trace their roots back not in years or decades but in centuries. From pharma giant Merck KGaA (founded in 1668) to chainsaw pioneer Husqvarna (1689)  to bourbon brand Jim Beam (1795), many companies have managed to not only survive but to keep on innovating and redefining their markets.

To illustrate, we used Crunchbase data to pick out a few well-known companies with some of the oldest founding dates in our dataset. They may not be startups, but today’s founders can find much to emulate in their survival skills.

Birkenstock

Think waiting a decade for a brand to go public is a long time? Try 249 years. That’s how long it took for iconic sandal maker Birkenstock, which traces its origins to the late 1700s and made its NYSE market debut just two years ago.

Birkenstock tracks the first documented mention of Johannes Birkenstock to the year 1774. Rather than originating with this sole founder, however, the company ties its history to a familial dynasty of shoemakers who plied their trade over generations.

A prototype more similar to the comfy shoe we know today debuted in the late 1800s from one of the family’s more entrepreneurial scions, Konrad Birkenstock, who developed and later trademarked the footbed, or flexible insole. Somehow, despite the whimsies of fashion, Birkenstock has retained its following over the years. Today, it’s a roughly $10 billion company.

Husqvarna

Husqvarna, a company known for its chainsaws, lawn mowers and assorted power tools, got its start in 1689 in the Swedish town that shares its name. Initially, the operation applied hydropower in weapons production. Over time, it branched out to a whole new set of other products, including sewing machines, hunting weapons, appliances, motorcycles, chainsaws and much more.

Today, Husqvarna pulls in close to $50 billion in annual revenue. In recent years, it’s also made a push into robotic mowers.

The London Stock Exchange

The London Stock Exchange traces its roots to 1698, when an investor named John Castaing published a list of currency, stock and commodity prices at the London establishment Jonathan’s Coffee House. The organization persevered through multiple name and venue changes. It forever altered the trading game in 1840 with the implementation of the telegraph machine, enabling prices on the floor of the New York Exchange to be available in London 20 minutes later, instead of 16 days.

Some others with roots in the distant past include:

• German pharma giant Merck KGaA, a $62 billion company today, got its start in 1668;
• Banking behemoth Barclays, a $54 billion market cap company, traces its origins to two goldsmith bankers doing business in Lombard Street, London, in 1690;
• Weapons maker Beretta’s company history dates back to 1526 in Italy, and members of the Beretta family have led the company for 15 generations;
• Finland’s Fiskars Group, a maker of consumer products and home accessories from scissors to cookware to porcelain, launched in 1649 as a maker of cast iron goods. It’s a $1.3 billion company today; and
• Bourbon brand Jim Beam traces its commercial launch to 1795, with the sale of its first barrel of Old Jake Beam Sour Mash. The Beam family continued selling bourbon pretty continuously since then, only taking a respite during Prohibition.

Which high-flyers today will stand the test of centuries?

Looking at the companies featured above, it’s easy to start wondering which of today’s high-flying brands will stand the test of time.

Will people be sipping Starbucks in 200 years? Will we be ordering things we don’t need from Amazon? Will Microsoft still be a going concern?

For better or worse, none of us will be around to find out.

Photo by Joanna Kosinska on Unsplash