America's Oldest...Consumers, it seems, are always after the shiny new product. For some industries, the latest version is always the most popular — the newest smartphone, tablet and sneaker are always the products in highest demand. Not surprisingly, some of the most valuable brands are relatively young. Apple, Google and Nike are each worth tens of billions of dollars and has tens of millions of customers.
Nevertheless, many of the most well-known brands with the most valuable brand equity include some of the country’s oldest companies. American Express, founded in 1850, is one of the hundred most valuable brands in the world, according to a list published by Interbrand, a branding consultancy. Coca Cola, Heinz and Jack Daniels are also on the Interbrand list and are all over a hundred years old.
24/7 Wall St. went in search of America’s oldest brands. To be considered, the brand had to have remained the same — the same name and consistently associated with the same consumer product. While almost all of the brands were not nationally available in the 19th century, the products had to be nationally available today.
The first edition of the New York Times was published on Sept. 18, 1851. The paper began publishing its Sunday issue in April 1861. After the paper’s acquisition by Adolph S. Ochs in 1896, the Times adopted its present motto, “All the News That’s Fit to Print.” On Aug. 14, looking to improve the paper’s digital offerings amid declining interest in the print product, The New York Times Company named Mark Thompson as its president and CEO. According to NPR, Thompson, formerly a BBC executive, was hired to help the paper increase digital sales, as the company hopes grow its digital platform amid print advertising revenue declines.
Tiffany & Co. (NYSE: TIF) has used the same 925/1000 standard for silver purity — a standard later adopted by the United States government — since 1851. Today, Tiffany sells silver bracelets, necklaces, piggy banks, and pill boxes, among other items. In fiscal 2011, 69% of Tiffany’s silver came from the Bingham Canyon Mine in Utah, while the remaining 31% came from recycled sources. According to Tiffany & Co. SEC filings, the company currently produces silver goods in New York, Kentucky and Rhode Island, while silver hollowware is produced in New Jersey.
Scientific American, a magazine dedicated to science and technology, was founded in 1845 by Rufus Porter. At the time, it was a weekly broadsheet carrying the subtitle, “The Advocate of Industry and Enterprise, and Journal of Other Improvements.” Porter sold the magazine after 10 months to Orson Desaix Munn and Alfred Ely Beach for $800. The publication also founded the first branch of the U.S. Patent Agency in 1850 to give technical and legal advice to aspiring inventors. More than 140 Nobel laureates have written for Scientific American in its history. Today, the publication is owned by Macmillan Publishers Ltd. Scientific American notes that the monthly print magazine is read by 3.5 million people worldwide, and 3.88 million people a month visit its website, ScientificAmerican.com.
Though people tend to think bottled water is a relatively new product, Poland Spring proves them wrong. More than 150 years ago, In 1845, the Ricker family began bottling and selling spring water. By 1860, Poland Spring was being sold all over the country. Driving the brand’s early fame was its affiliation with the Poland Springs Resort and its purported health benefits. The brand remains as popular as ever: Poland Spring was named the strongest bottled water brand in 2012 by the Harris Poll EquiTrend study.
In 1843, G. & C. Merriam Co. purchased the rights to Noah Webster’s 1841 edition of An American Dictionary of the English Language, Corrected and Enlarged. In 1847, Merriam published its first Merriam-Webster dictionary. Though one of the country’s oldest brands, Merriam-Webster makes significant efforts to keep track of the latest linguistic trends. In August 2012, the company released its list of new words to be added to its Collegiate Dictionary. The list included words such as man cave, underwater (to describe mortgages), aha moment, and gastropub.
Brooks Brothers was founded in 1818 by Henry Sands Brooks, with the first store located in New York City. The company made the first ready-to-wear suits in 1849, and it has sold them ever since. The company notes that those flocking to California in the 1849 Gold Rush could not wait for tailors for custom clothing, relying on Brooks Brothers for their suit needs. Today, the New York-based company has approximately 200 stores in North America and an additional 130 stores in other parts of the globe. The company has greatly expanded its offerings since 1849 too, selling formal and casual wear for men, women and children.
F. & M. Schaefer Brewing Company, which makes Schaefer Beer, was founded by brothers Frederick and Maximilian Schaefer. Frederick had immigrated to the U.S. from Germany in 1838, and Maximilian followed him in 1839, bringing along a formula for lager. By 1842, the two brothers purchased a small brewery in New York City. Over the 19th and 20th century, the company, and its beers, developed a wider following. An advertising campaign created the famous jingle, Schaefer — “the one beer to have when you are having more than one.” By 1971, more than 5 million barrels of beer had been brewed. In 1981, the F. & M. Schaefer Brewing Company was purchased by the Stroh Brewing Company, which was purchased by the Pabst Brewing Company in 1999. Despite these changes in ownership, Schaefer Beer is still sold today.
Remington was founded in Ilion Gulch, New York by Eliphalet Remington II in 1816 and began making rifles and gun barrels that same year. The company has evolved somewhat since its founding. It incorporated as a stock company called E. Remington & Sons in 1865. In 1888 it was acquired by Marcellus Hartley and partners and renamed Remington Arms Company. From 1933 to 1993 it was partly, and later wholly owned by E.I du Pont de Nemours & Co. Despite all these changes, Remington rifles have been a constant. Of course, the rifles have evolved from the 1816 flintlock to the present semi-automatic, autoloading models manufactured and sold today.
Crane Paper has been made since 1799, when Zenas Crane began milling cotton paper. Under Zenas, the Crane Paper Company began printing currency. Since 1879, the company has provided the U.S. Treasury with currency paper. Crane’s has continued to use cotton paper, even as other companies have moved to tree pulp for making paper. The company’s cotton paper is not just used for currency production, but also for stationary. Among those who used stationary crafted from Crane’s paper were Franklin and Eleanor Roosevelt, and the Queen Mother.
Baker’s Chocolate has, as a brand, been produced consistently since 1780, when Dr. John Baker purchased the outstanding shares in his own company from his partner’s widow. One representative of Kraft Foods, present owners of the brand, told 24/7 Wall St. that “not much has changed, except the packaging.” Yet even the packaging has remained remarkably consistent over time. La Belle Chocolaterie, the female figure seen on packages of Baker’s, has been featured on Baker’s Chocolate packages for over 100 years.