When a company has been present in the market for 50 years, it causes admiration. And if it has made it to a century or more, it is worthy of praise and it provokes interest to know how it has been possible. Here are five examples of family businesses founded in Mexico that have had the challenge of growing, maturing, and remaining.
Casa Veerkamp: more than 100 years of fostering a musical culture
The store in Mexico City's Historic Center is the most complete in the country with 9,000 imported musical instruments. The founder is the German Federico Veerkamp, who became a Mexican citizen. Today the company is in the hands of the third generation. The main factor of success has been to build an excellent reputation thanks to the seriousness in doing business.
Casa Serra: more than 100 years of fine arts
Francisco Serra started a tlapalería in 1906 in the Historic Center of Mexico City. He was also a sculptor and brought materials from Europe for his personal use. His artist friends began to order brushes, paints, and other tools from him. He began importing five kilos of tools and then a ton. The business changed to the sale of articles for plastic arts. His sons took over the reins of the company and later sold the shares to three sister employees. The family company has endured by aligning everyone's interests and visions.
Casa Cuervo: the oldest tequila producer in the world
José Antonio de Cuervo and his sons never imagined that the hundreds of agaves they cultivated in 1758 in Tequila, Jalisco, would multiply by millions. Jose Cuervo Especial is the best-selling tequila in the world, reaching more than 100 countries. Juan Domingo Beckmann is the sixth generation to lead the distillery. The formula for success is the professionalization of the company.
Grupo Salinas: more than 100 years of achieving inclusive prosperity
Benjamín Salinas opened a furniture factory (Salinas y Rocha) in Monterrey in 1906. Today his great-grandson, Ricardo Salinas, heads Grupo Salinas. Before doing so, Elektra already existed. At the helm, he created TV Azteca, Banco Azteca, Total Play, Italika, Seguros Azteca, among others. The most important strategic factor to achieving longevity is to have a precise focus and diversify around the original business.
Coppel: successfully meeting the challenge of succession
In 1941, Don Luis Coppel and his son Enrique established a small store in Sinaloa where they sold radios and watches. Later, they decided to sell furniture on credit. Over time, they introduced new lines of business such as clothing and shoes. Today they have more than 1,000 branches. Enrique's eldest son was the president and CEO, who at the age of 60 passed the position to his younger brother Agustin. They have made succession "a process and not an event".