The 50 Most Innovative Companies
Fast Company's annual list of The World’s 50 Most Innovate Companies features widely recognized global brand names alongside small companies that are only now known in their countries of origin. Yet, each company has made great strides in the past year through innovative products, offering and solutions. The full list is available here, but below is the consumer goods industry's contribution to the list (excerpted from Fast Company):
#7 Nike
The athletic apparel company, which took the top spot in 2013, finished in seventh place this year thanks to an app called Making that helps companies measure the environmental impact of using different materials. The app was released in the summer of 2013 and was designed in response to the company's stated mission to eliminate the use of hazardous chemicals in the manufacture of its products by 2020.
#14 Apple
The iPhone 5S's Touch ID allows the user to unlock the phone with just the touch of a finger. This neat new trick is why Apple is estimated to be selling two-and-a-half times as many 5S smart phones as the 5C, which doesn't yet have Touch ID. An added bonus for Apple’s bottom line, Touch ID makes it even easier for users to download apps and entertainment, which together comprise more than $10 billion in annual sales for the company.
#15 Michael Kors
With annual revenue quadrupling from 2010 to 2013, this American fashion house has the designer’s recipe down pat. The company’s namesake is able to keep his cred with the Anna Wintours of the world while selling clothes and accessories at price points for the average gal (and guy) — accessible luxury if you will.
#17 Warby Parker
This eyewear maker started out as the Netflix of eyeglasses, shipping five frames and giving the consumer five days to try them on with no obligation to buy. With the opening of four more physical stores, the closing of a $41.5 million round of funding, and the expansion of staff to 300, the transition to full omnichannel retailer is complete.
#23 Fitbit
Fitbit sold 67 percent of all full-body activity trackers in 2013, besting Nike's FuelBand and Jawbone's Up in both sales and critical reviews, which helped bring in $43 million in funding last year. Thanks to a recent software update, its latest device, Force, syncs with iPhones to show an incoming caller's name on its scrolling screen.
#24 Rose Studio & Mary Ching
Haven’t heard of these two companies yet? Here’s a crash course. Rose Studio creates imaginative, elaborate gowns for Chinese celebrities and lavish ceremonial occasions, such as the dress worn by singer Song Zuying during the Beijing Olympics Opening Ceremony. Tied for 24th is Mary Ching, which founded by Alison Mary Ching Yeung hopes to redefine "Made in China" through opulent footwear and accessories (her first bestseller was cashmere slippers with Chinese motifs). Rather than connoting cheap, poorly made knockoffs, the phrase will signal luxury, creativity and high quality.
#30 Levi Strauss
The American institution made the list thanks to green initiatives. More than 10 percent of Levi's clothes are made using its sustainable techniques, creating renewed vigor for the brand that's reflected in sales — but most notably in profit. Net income for the first nine months of 2013 improved 135 percent from the previous year, to $212 million on revenue of $3.4 billion.
#31 Johnnie Walker
The $3 billion Scotch brand contributes about half of parent company Diageo's total sales volume. It does this in part by deploying local teams to plumb the collective psyche of its target markets — and then customizing its "Keep Walking" campaign to speak to the new regions' aspirations. The result: 80 percent of Johnnie Walker's 2013 growth came from emerging markets.
#32 Luvo
A year ago, Luvo was in 100 stores in California; now it's in roughly 6,000 nationwide. What’s the consumer appeal? LUVO’s nutrient-dense frozen entres, each with no more than 500 calories or 500 milligrams of sodium (and ingredients that even a 5-year-old can pronounce), come in a patented 100 percent recyclable paper pouch that evenly heats the food.
#40 GoldieBlox
In seven months last year, GoldieBlox — a building kit with an accompanying storybook that brings to life engineering principles like leverage — went from Kickstarter success to the shelves of Toys "R" Us and Amazon, where its products are bestsellers. Founder Debbie Sterling has sold more than 100,000 toys.
#43 Beyond Meat
The company aligns soy and pea proteins so they mimic meaty texture, without antibiotics, hormones or trans fats. Its "chicken" strips and taco "beef" crumble hit the market in a big way last year, arriving on shelves at Whole Foods and groceries nationwide.
#44 iRobot
iRobot may be best known for the floor-cleaning Roomba, but here’s the company’s full story: Revenue climbed by roughly $50 million in 2013 to almost $500 million, and investments in new technologies totaled $60 million.
Click here to access the full list of The World’s 50 Most Innovative Companies.
#7 Nike
The athletic apparel company, which took the top spot in 2013, finished in seventh place this year thanks to an app called Making that helps companies measure the environmental impact of using different materials. The app was released in the summer of 2013 and was designed in response to the company's stated mission to eliminate the use of hazardous chemicals in the manufacture of its products by 2020.
#14 Apple
The iPhone 5S's Touch ID allows the user to unlock the phone with just the touch of a finger. This neat new trick is why Apple is estimated to be selling two-and-a-half times as many 5S smart phones as the 5C, which doesn't yet have Touch ID. An added bonus for Apple’s bottom line, Touch ID makes it even easier for users to download apps and entertainment, which together comprise more than $10 billion in annual sales for the company.
#15 Michael Kors
With annual revenue quadrupling from 2010 to 2013, this American fashion house has the designer’s recipe down pat. The company’s namesake is able to keep his cred with the Anna Wintours of the world while selling clothes and accessories at price points for the average gal (and guy) — accessible luxury if you will.
#17 Warby Parker
This eyewear maker started out as the Netflix of eyeglasses, shipping five frames and giving the consumer five days to try them on with no obligation to buy. With the opening of four more physical stores, the closing of a $41.5 million round of funding, and the expansion of staff to 300, the transition to full omnichannel retailer is complete.
#23 Fitbit
Fitbit sold 67 percent of all full-body activity trackers in 2013, besting Nike's FuelBand and Jawbone's Up in both sales and critical reviews, which helped bring in $43 million in funding last year. Thanks to a recent software update, its latest device, Force, syncs with iPhones to show an incoming caller's name on its scrolling screen.
#24 Rose Studio & Mary Ching
Haven’t heard of these two companies yet? Here’s a crash course. Rose Studio creates imaginative, elaborate gowns for Chinese celebrities and lavish ceremonial occasions, such as the dress worn by singer Song Zuying during the Beijing Olympics Opening Ceremony. Tied for 24th is Mary Ching, which founded by Alison Mary Ching Yeung hopes to redefine "Made in China" through opulent footwear and accessories (her first bestseller was cashmere slippers with Chinese motifs). Rather than connoting cheap, poorly made knockoffs, the phrase will signal luxury, creativity and high quality.
#30 Levi Strauss
The American institution made the list thanks to green initiatives. More than 10 percent of Levi's clothes are made using its sustainable techniques, creating renewed vigor for the brand that's reflected in sales — but most notably in profit. Net income for the first nine months of 2013 improved 135 percent from the previous year, to $212 million on revenue of $3.4 billion.
#31 Johnnie Walker
The $3 billion Scotch brand contributes about half of parent company Diageo's total sales volume. It does this in part by deploying local teams to plumb the collective psyche of its target markets — and then customizing its "Keep Walking" campaign to speak to the new regions' aspirations. The result: 80 percent of Johnnie Walker's 2013 growth came from emerging markets.
#32 Luvo
A year ago, Luvo was in 100 stores in California; now it's in roughly 6,000 nationwide. What’s the consumer appeal? LUVO’s nutrient-dense frozen entres, each with no more than 500 calories or 500 milligrams of sodium (and ingredients that even a 5-year-old can pronounce), come in a patented 100 percent recyclable paper pouch that evenly heats the food.
#40 GoldieBlox
In seven months last year, GoldieBlox — a building kit with an accompanying storybook that brings to life engineering principles like leverage — went from Kickstarter success to the shelves of Toys "R" Us and Amazon, where its products are bestsellers. Founder Debbie Sterling has sold more than 100,000 toys.
#43 Beyond Meat
The company aligns soy and pea proteins so they mimic meaty texture, without antibiotics, hormones or trans fats. Its "chicken" strips and taco "beef" crumble hit the market in a big way last year, arriving on shelves at Whole Foods and groceries nationwide.
#44 iRobot
iRobot may be best known for the floor-cleaning Roomba, but here’s the company’s full story: Revenue climbed by roughly $50 million in 2013 to almost $500 million, and investments in new technologies totaled $60 million.
Click here to access the full list of The World’s 50 Most Innovative Companies.