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Bacardi among most reputable companies

Building a reputation: Bacardi has been named among the world’s 100 most reputable companies for the seventh successive year (Photograph by Jonathan Kent)

Bermudian-based Bacardi Ltd has been named among the most reputable companies in the world for a seventh consecutive year.

The annual Global RepTrack 100 list is compiled by the Reputation Institute and published in Forbes magazine.

Bacardi is ranked 87th, two spots ahead of its 2018 ranking.

The ranking is based on more than 230,000 individual ratings collected in the first quarter of 2019 by the RI, Bacardi said.

The company said the survey is the largest corporate reputation study of its kind, and provides comparative rankings, demographic trends, and unique insights into the dynamics behind reputational impact.

The global study, Bacardi said, shows what drives trust including ethical behaviour, fairness, product value and transparency while identifying behaviours including intent to purchase a company’s products, and willingness to invest in, or even work for, a company.

“Consumers are at the heart of everything we do at Bacardi as we are all about bringing people together, in real life, to celebrate moments that matter. It is rewarding to know that once again, consumers recognise us for being a good corporate citizen,” said Mahesh Madhavan, chief executive officer, Bacardi Ltd.

“I raise my glass to our talented teams across the world, as they are the driving force behind the positive impact on the communities in which we operate.”

For more than 20 years, RI has measured the reputation of thousands of companies using its RepTrak framework.

The Global RepTrak 100 study, Bacardi said, measures multinational companies with a presence in all 15 surveyed countries and brand familiarity with at least 40 per cent of the general population on seven dimensions of reputation including products and services, innovation, workplace, governance, citizenship, leadership and performance.

The countries in the annual survey — Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, South Korea, Spain, United Kingdom and United States — represent the world’s largest economies, the company said.

In putting together its annual list of the world’s most reputable companies, RI assigns each company a score between 0 and 100 — The RepTrak Pulse — ascertained by taking into account the esteem, trust, admiration and feelings the general public has for each company. A company’s performance across seven categories of reputation explain the rational drivers behind the emotional bond, Bacardi said.

RI’s global headquarters are in Boston, Massachusetts. The organisation has three other offices in the US as well as offices in Brazil, Netherlands, Spain, Denmark, Italy, United Kingdom, France, and Australia.

Family-owned Bacardi is the largest privately held spirits company in the world,

The company employs more than 7,000 people, operates more than 20 production facilities, including bottling, distilling and manufacturing sites in 11 countries, and sells its brands in more than 170 countries.