The Reputation Institute is the leading “data, analytics, and insights platform powering global companies to build credibility worldwide.” Each year, the Reputation Institute puts out its annual Global RepTrak 100 – an exhaustive annual study that ranks the 100 most reputable companies in the world.
What Makes a Company Reputable?
Complex metrics are involved in compiling the list, and “companies that elevate positive perceptions of the enterprise, prioritize corporate responsibility, leverage strong leadership, are ethical, speak to the corporate brand purpose, and engage market influencers” are the ones that come out on top, according to RI’s Chief Reputation Officer Stephen Hahn-Griffiths. The latest list has just been released, and Rolex has captured the No. 1 spot for the fourth year running, making it the world’s most reputable company.
Rolex is the only watch company to make the Top 10, the only luxury goods company to make the Top 10, and the only Swiss company to make the Top 10. Hahn-Griffiths points out in a Forbes article that many companies were damaged by bad press and corporate scandals this year, creating something of a “reputation regression” bordering on a reputation recession that affected the likes of Nike, Facebook, and Google.
Rolex of course has always remained almost impossibly aloof from any sort of controversy, even if at times the brand has been cast in a less than favorable light in circumstances or news events beyond its control. One key attribute of the world’s most reputable companies, according to the Reputation Institute, is transparency, which has never been Rolex’s strong suit. However, this does not seem to have hurt their ironclad reputation in the least.
Why Rolex is Number 1
Hahn-Griffiths says Rolex’s practice of sponsoring both accomplished “testimonee” figures and high-profile events has helped keep their reputation golden. “Rolex’s reputation is aligned with symbolic spokespeople who become manifestations of the brand and reinforce quality with integrity,” Hahn-Griffiths tells Forbes. The net perception is that “they’re successful and making the world a better place.”
The Rolex’s testimonee ranks include the likes of Roger Federer; filmmaker, James Cameron – who has a highly-coveted Sea-Dweller model named after him; skier, Lindsey Vonn; racing legend, Sir Jackie Stewart; and many more. No other brand even comes close to the number and prestige of its brand ambassadors, and Rolex’s extremely effective advertising campaigns emphasizing the iconic and essentially timeless nature of its designs are certainly doing their part as well.