Ferrero

“By the mid 2010 Ferrero is purchasing roughly one third of the entire world's hazelnut crop and had even become the world's largest hazelnut supplier itself.”

“He built up an advantage over his competitors by using this rural workforce model. This is what I mentioned earlier. So instead of central, centralizing operations inside a big city, he actually employed people from nearby rural towns. This allowed them to sta…”

“So Ferrero owned a hundred percent of his company. He had no outside shareholders. He had no debt today. That company does twenty billion dollars a year in revenue with very high margins.”

“In fact, he had a shrine of Madonna placed in every single factory and office, no matter how big the company got.”

“So his products average, they cost about 50% more than their competitors.”

“It, when you look it up, it says that this is a forty billion dollar company. It's likely worth multiples of that.”

“I think at one point, They had like a 110 different like name companies that were like named something different, but all owned by Ferrero.”

“The boy who started as an apprentice in the family and the family pastry shop had built over half a century, an empire spanning 20 factories worldwide, selling products in over a 160 countries. Utterly dominating with over 70% of the world's market for chocola…”

“I was able to do all this because we're a family business and we're not listed on the stock exchange. This allowed us to grow calmly. To have long-term plans, to know how to wait, and to not be caught up in the frenzy of the daily ups and downs.”

“And at the very beginning, you know, in the 19 forties, he has 41 vans. You fast forward, 20 years later, he's got thousands of them. And by this time Ferrero had the largest private fleet in Italy, second only to the Italian army, all completely controlled by…”

“If we imitate the products of our big company, our big competitor companies, we will inevitably lose because they will can crush us with their strength. They are fighter bombers and we are a small boat. They can wipe us out with a single blow. We must keep our…”

“And remarkably in over 70 years of operations, Ferraro's workforce never went on strike, which was unheard of at the time and in the location, which he's building his company, a virtually unheard of record in their industry.”

“Ferraro is rumored to sell about three billion dollars a year of Nutella.”

“He felt that the air that he was breathing was so conducive to thinking that he hired architects to recreate the characteristics of those walking paths. In his office, they exactly replicated the characteristics of the air in the hills at about 600 meters in a…”