Corporate purpose and social impact are strengthening business reputations, and consumer goods brands are among those witnessing the fruits of their labor.
The 10th annual Global RepTrak, in which the Reputation Institute ranks companies on how they’re perceived across seven factors, has anointed The Lego Group as the No. 1 most reputable global company for its 2020 list.
Companies are measured across the following criteria: products and services, innovation, workplace, governance, citizenship, leadership and financial performance. Over 80,000 consumer responses from the 15 countries during December 2019 and January 2020 were considered in calculating the 0-100 scale for 153 companies with a global footprint and annual revenue of at least $2 billion.
Iconic legacy brands have begun reinvigorating themselves to drive deeper relevancy in 2020, said Kylie Wright-Ford, CEO of Reputation Institute.
“What distinguishes these best-in-class companies is their ability to find new ways to connect with consumers and shareholders alike by delivering excellent products, industry-leading innovation and a truly meaningful purpose,” she added. “This is the way leading companies create enduring reputation value."
Lego was hailed for its “excellent products and services,” “leading with innovation” and “growing with purpose.”
“Lego is a top-of-mind brand in terms of children’s products, while simultaneously improving the sustainability of its products and offering ways to play in real life and virtual reality,” noted the Reputation Institute.
Lego CEO Niels Christiansen said the company was honored and humbled to be the No. 1 ranking company. “Everyday, employees at The Lego Group are empowered to make decisions to do what’s right for children, our fans, our partners, the environment and our local communities,” he said. “It’s each one of these actions — big and small — which builds a reputation.”
Along with the Walt Disney Company, Lego has been in the top 10 every year since the first ranking in 2011. Thirty-three companies improved their reputation rating this year vs. 2019, while 11 worsened.
The top 10 companies in the 2020 list are as follows:
1. The Lego Group
2. The Walt Disney Company
6. Levi Strauss & Co.
8. Adidas Group
9. The Bosch Group
Other consumer goods companies that secured a spot on the list include: Rolex (No. 2), 3M (No. 15), Nintendo (No. 17), Barilla (No. 18), Ferrero (No. 21), Giorgio Armani (No. 24) and Kellogg's (No. 26).