Chung Ju-yung, the founder of Hyundai, originally wanted to become a school teacher, but his family’s dire financial situation made him unable to get higher education. Instead, he ran away from his family to Seoul, where he started a construction company, Hyundai, in 1947.
Starbucks sometimes operates at a loss intentionally and clusters several locations in a small geographical area to become anti-competitive in the market.
Most Converse sneakers have a very thin layer of felt applied to their soles, in order to legally classify them as slippers. This saves the company more than 33% in import tariffs.
There’s a grocery store in Berlin where items are soldwithout any brands or packaging. Customers are expected to bring their own containers, which are then weighed to determine the final price.
In 1915 a raisin company executive spotted a teenage girl drying her curly brown hair and wearing her mother’s red bonnet and hired her for a stunt promotion that had her dropping raisins from an airplane. Soon she became the company’s first mascot called, “Sun Maid.” Backed by an aggressive marketing push throughout the 20s, Sun-Maid managed to triple American consumption of raisins by the end of the decade.
A disgruntled former 7-Eleven owner opened a new convenience store across the street from his old location. He named it 6-Twelve.
Some Chinese companies hire white actors to pretend to be foreign businessmen so that the companies can seem more connected globally.
In an effort to increase sales, some clothing stores use mirrors that make you look about 10 pounds thinner.
When Nintendo had a fall in revenue from the less successful Wii U, its CEO cut his pay in half for 5 months rather than blame workers.
A New Orleans restaurant has been owned by the same family since 1840. Antoine’s, famous for Oyster Rockefeller and Baked Alaska, has had five generations of the family run it, and a sixth is preparing to take over. It is the US’s oldest continuously family-run restaurant.