Kongo Gumi, a Japanese construction company, holds the title for being the world’s oldest continuously operating company. Established in 578 A.D., it specialized in the restoration of Buddhist temples and other historical buildings. Despite becoming a subsidiary in 2006, Kongo Gumi continues to use traditional techniques, making it invaluable in preserving Japanese architecture. The company’s success lies in its ability to find a niche and maintain its expertise in that area.
Meanwhile, St. Peter Stiftskulinarium, a restaurant in Salzburg, Austria, has been delighting diners for over 1,200 years. Started as a wine cellar for the attached monastery, the restaurant expanded its menu beyond traditional dishes like schnitzel and strudel. The current operators have introduced innovative dishes, catering to a diverse range of tastes. This willingness to adapt and mix things up has contributed to the restaurant’s longevity.
The Olde Bell Hotel, located outside London, has been providing weary travelers with a place to rest and enjoy a pint of ale since 1135. While the hotel has expanded over the centuries, the commitment to offering excellent service and hospitality remains unchanged. Famous figures, including Winston Churchill and Elizabeth Taylor, have spent time in its cozy rooms and bar. The hotel’s ability to evolve with the times while maintaining its core values has contributed to its long-standing success.
In Italy, Officina Profumo-Farmaceutica di Santa Maria Novella has been operating as a pharmacy since 1542 and as a brand since 1612. The pharmacy’s signature fragrance, Acqua della Regina, has remained a bestseller for centuries. It is said that Catherine de’ Medici brought a perfume maker raised by the friars of the Santa Maria Novella monastery to create a special perfume for her wedding. The brand’s enduring products, rooted in history and associated with famous patrons, have contributed to its longevity.
Brooks Brothers, a clothing manufacturer and shop founded in 1818, has been supplying customers with quality garments for 200 years. Throughout its history, the company has focused on its core customer base, which includes prep school students and Wall Street bankers. During the COVID-19 pandemic, the company adapted to the changing needs of its customers and introduced casual wear options. However, Brooks Brothers ensured that even its sportswear maintained the brand’s signature style, offering personalized touches like monogramming.
Finally, Consolidated Edison, established in 1823 as the New York Gas Light Co., is the oldest continuously operating company listed on the New York Stock Exchange. Originally providing gas lights to Manhattan, the company transitioned to electricity in the late 19th century. Despite facing competition from numerous companies, ConEd emerged as the sole provider of electric light in New York City. Its strategic location and ability to adapt to technological advancements have contributed to its longevity.
These long-standing businesses offer valuable lessons in finding a niche, embracing change, maintaining core values, offering signature products, focusing on core customers, and strategically positioning oneself in the market. By learning from their experiences, businesses can strive for longevity and success in an ever-changing world.
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