When it comes to reputation, Rolex takes the crown
April 17, 2014
New York--Consumers rank Rolex as one of the most reputable companies in the world, placing it alongside brands such as Disney, Google and BMW, one institute’s recent study shows.
According to the 2014 Global RepTrak 100 study by the Reputation Institute, Rolex is tied for third place with the BMW Group on the overall list of the 100 most reputable consumer product companies in the world.
In addition, the Geneva-based luxury watch brand ranked No. 1 for products and services by consumers.
For the study, more than 55,000 interviews were conducted in January and February with consumers across the 15 largest markets in the world. Each participant rated a maximum of five randomly assigned companies that they said they were either somewhat or very familiar with using the Reputation Institute’s RepTrak methodology.
They were asked whether they would buy the company’s products, recommend the company’s products and welcome them to the local community, among others questions.
The reputation scores were determined by how the consumers feel about a company’s products, image, governance, personal relatability, citizenship and financial performance.
Qualifying companies had an above-average reputation in their home market from 2009 to 2013, are public-facing companies with mid-high international scope, and have revenues greater than $6 billion (U.S.) or $1 billion (internationally).
What the best, highest-ranked companies have in common is that they “use feedback from customers and other key stakeholders to make better business decisions, and that is what makes them trusted and relevant,” the Reputation Institute said in the release of its survey results.
Other watch and jewelry companies on the list were Swatch Group, which ranked No. 61, and LVMH Moët Hennessy Louis Vuitton at No. 37, which owns a number of watchmakers including Zenith, Hublot and TAG Heuer as well as Bulgari and the De Beers Diamond Jewellers stores, which it operates in joint venture.
The Walt Disney Company and Google tied for first in the study. Also included in the top 10 were Sony, Canon, Apple, Daimler and Lego, with Microsoft and Samsung tied for tenth place.
A few fashion brands also made the global list, including Giorgio Armani, Hugo Boss, Benetton and Zara.
In North America, e-commerce giant Amazon has the best reputation among consumers.