Month: February 2015
Danone: How a European Brand Came to American Markets
Danone company, the makers of Dannon yogurt, is a Spanish company founded in 1919. It was created by Isaac Carasso, of Jewish descent, and it consisted of a very small factory for the production of yogurt. It was named after Carasso’s son Daniel, his nickname being “Danon.”
It was quite successful during its first ten years, relocating to France and building an additional factory there. The company was moved briefly to New York during the German occupation of France in World War II, something that likely saved Carasso’s life. This was to avoid prosecution for his German heritage. It was in the US that Daniel met Joe Metzger, and the two decided to change the brand name to “Dannon.” This made the brand sound more American, as opposed to the way Americans had previously called it “Dan One Yogurt.” The move helped cement the brand stateside, where it continues to thrive to this day.
The American side of the business was sold in 1959, after Daniel decided to return to France and Spain in order to manage some family business. He later repurchased the American business, but the company had already merged with Gervais, a leading producer of cheese in France.
Danone is actually a group of companies, yogurt being just one aspect of the business. There is a thriving glass making side called “Boussois-Souchon-Neuvesel,” founded by the family of Antoine Riboud. Although the glassmaker began within that industry, it eventually became transformed into a food company through acquisitions and mergers. In 1973, it merged with Gervais Danone, officially putting glass into yogurt.
Samuel Phineas Uphamis an investor from NYC and SF. You may contact Phin on his Samual Phineas Upham website or Linkedin page.
The Impact of Money on the Self
Money has a strange effect on people. Those who launch companies that become successful, especially the young, may feel conflicted on what to do with their sudden accumulation of wealth. There may be guilt, that one person earns more than others. It’s also common to feel joyous and waste it all in a frenzy with no real sense of planning. The truly wealthy are those who exercise extreme discipline in managing their money and its impact on the self.
The Meaning Behind Money
Listen to some people and you’ll hear that money is the only thing fueling charity and museums. Others will tell you money is systemic of greed. Some will say money can help preserve nature, others say the accumulation of wealth is the directly related to the destruction of nature. That signals a deep divide in how some people perceive wealth. Those who argue that more should be given to the poor may not donate money or time themselves. This is not to say the rich are to be pitied, only that there is a disconnect between what we can do with the means we accumulate.
If wealth is the root of all evil, then wealth will remain unattainable and the world will always seem unfair and opposing. After all, only evil people get rich.
So it’s important for all of us to understand the impact that money has on the self. Be honest with your intentions on spending money and money will find a positive use.
Samuel Phineas Uphamis an investor from NYC and SF. You may contact Phin on his Samual Phineas Upham website or Linkedin page.