Many business historians consider
Wedgwood the first industrial company. It started producing dinnerware
on a large scale in the late 1770s. Wedgwood Ltd. lived until 1986 and
was bought-out by Waterford Crystal.
Wedgwood probably died in 1986 after too many generations of nepotism.
Waterford-Wedgwood died yesterday. Combining to two old companies we have lost the longest running success in industrial commerce...240 years.
I
don't believe Wedgwood was the first company to produce products on an
industrial scale, that was never a unique accomplishment. I believe
the genius of Wedgwood was industrial marketing. All products in
England in 1770 had to pay to sell their products to the Royal House
(it is true today 'Purveyors to the Queen' label is still for sale). So
Josiah Wedgwood made a set of dinnerware for the Empress of Russia
(whether she paid for it or not is unknown). He displayed the set in
London along with great publicity. He started selling copies by the
thousands all over Europe.
Marketing genius and a testament to the power of an unsullied brand name.
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