Every company has a brand, and those identities are not made in haste as they are expected to be mentioned by the public for decades to come.
Most of the brands have a story behind their names, be it a reflection of their business, a desire to succeed, or an inspiration from myth and literature.
Denmark’s Lego is derived from “leg godt,” meaning “play well” in Danish. True to its name, Lego is currently one of the most successful toy companies in the world. According to Brand Finance, the Lego brand is worth about $3.8 billion this year.
By 2009, it was calculated Lego had sold the equivalent of 62 bricks for each person in the world.
Lego was founded by Ole Kirk Christiansen in 1932, and his family still owns the company today, with 75 percent of the company shares. Kjeld Kirk Kristiansen, former president and CEO of Lego Group, is estimated to have individual assets of $9.5 billion.
The name of Japanese toy and video game company Bandai, famous for its plastic model kits, means “10,000 generations.” It was christened with the name in the hope that the company would prosper for a long time.
Bandai’s Gundam models ― which depict robot vehicles from the science fiction franchise of the same name ―have embodied that longevity, being the company’s main claim to fame since they were released in 1980.
Gundam models made up 37 percent of Bandai’s sales last year.
Shukuo Ishikawa, president and CEO of Bandai Namco Holdings, received total compensation of 140 million yen ($1.1 million) last year, and Bandai was valued at $1.05 billion.
Some other brand names reflect the company’s desire to succeed, and this is commonly found in East Asian business names.
Chinese company Dalian Wanda Group is named to mean longevity, fertility and prosperity. Dalian Wanda states its core philosophy on its website as “International Wanda, Centennial Business,” referring to international success and long-term sustainable growth. Wang Jianlin, chairman of Dalian Wanda Group, has assets worth $44.3 billion.
Samsung, South Korea’s biggest corporation, has a similar meaning behind its name. According to the autobiography of Samsung Group founder Lee Byung-chull, Samsung was named to reflect his hopes of huge success. “Sam,” which means “three” in Korean, represents largeness, fullness and strength. “Sung,” which means “star,” is to represent the company being bright and eternally shining. True to its name, market research company Millward Brown has calculated Samsung’s brand value at $21.6 billion, the 45th highest in the world.
Samsung Group chairman Lee Kun-hee and vice chairman Lee Jay-yong also have assets worth $11.4 billion and $8.9 billion respectively, making them among the richest people in the country.
Japanese video game company Nintendo initially began as a playing card company in 1889. The name Nintendo means “leave luck to heaven,” showing their willingness to work to the best of their ability, while letting the heavens decide their fate.
The late Hiroshi Yamauchi, third president of Nintendo and grandson of company founder Fusajiro Yamauchi, eventually turned the company into a world-leading video game company, with its brand value calculated at $8 billion in 2013.
Some companies have derived their name from works of fiction such as novels and mythology.
Lotte Group founder Shin Kyuk-ho was immersed in literature when he was studying in Japan in the 1940s. When he set up his company, he decided to name it “Lotte,” a pet name of the character Charlotte from Goethe’s novel, “The Sorrows of Young Werther.”
Coffee chain Starbucks also got its name from a literary source. When Jerry Baldwin, Zev Siegl and Gordon Bowker first founded the coffee store in Seattle in 1971, they wanted to name their company after Herman Melville’s novel “Moby Dick.” After receiving feedback that the name Pequod ― the whaling ship from the book ― did not go well with coffee, they changed the name to Starbucks after the chief mate of the ship Starbuck.
Starbucks expanded and became the coffee franchise that it is today when Howard Schultz joined as a director of retail operations and marketing in 1982 and acquired Starbucks in 1987. Schultz is the current chairman and CEO of Starbucks.
American luggage manufacturer and retailer Samsonite was founded in 1910 by Jesse Shwayder, and was initially incorporated as the Shwayder Trunk Manufacturing Company. The name Samsonite came about when Shwayder named one of his suitcases Samson, after the biblical strongman. The company changed its name to Samsonite in 1966.
The name reflects Shwayder’s religious faith, but can also be seen as signifying a characteristic of the firm’s luggage, which have been known for its sturdy quality.
By The Korea Herald Superrich Team (
sangyj@heraldcorp.com)
Kwon Nam-keun, Hong Seung-wan, Sung Yeon-jin, Bae Ji-sook, Yoon Hyun-jong, Min Sang-seek, Kim Hyun-il, Sang Youn-joo
