HOT MESS
Fortune US|February - March 2024
Huy Fong sriracha rose from nowhere to become an iconic American food brand. Here's how a feud between partners knocked it off its throne.
Indrani Sen
HOT MESS

It was November 2016, and the fourth-generation California farmer had just completed a perfect pepper harvest another high point for a business, Underwood Ranches, that had grown exponentially over three decades on the strength of a single crop. As the sole supplier of the juicy red jalapeños for sriracha, Huy Fong Foods' iconic fiery-red chili-garlic sauce, Underwood's empire of peppers had spread from a 400-acre family farm in the 1980s to 3,000 acres across two counties outside Los Angeles.

Sriracha's rise had by then become the stuff of business legend. That spicy, slightly sweet, good-on-everything sauce, in the instantly recognizable bottle with its white rooster emblem and bright green nozzle, was the brainchild of David Tran, who had first devised the recipe and sold the stuff in L.A. in 1980 as a Vietnamese refugee starting a new life for his family.

Tran's business motto is "make product, and not profit," but Huy Fong had become the No. 3 hot sauce brand in America-all as a private company, without selling even the smallest share to the country's Big Food titans. At the time, Tran's green-tipped bottles could be found in one in 10 American kitchens and on the International Space Station.

Sriracha's success grew from the firm ground of Underwood and Tran's business partnership: Underwood supplied all Huy Fong's chilies, and Tran was Underwood Ranches' only pepper buyer. By 2012, Tran had built a gleaming 650,000-square-foot factory less than two hours from Underwood's Ventura County headquarters. On a tour of the site, he told Underwood that together they would fill it with chilies.

この記事は Fortune US の February - March 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Fortune US の February - March 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

FORTUNE USのその他の記事すべて表示
THE NEW GOLD RUSH
Fortune US

THE NEW GOLD RUSH

Gold prices have soared amid global uncertainty and a central-bank-driven buying spree. But this time, the gold mining industry looks very different.

time-read
10+ 分  |
December 2024/January 2025
A New Season for Giving
Fortune US

A New Season for Giving

As the PGA TOUR kicks off its 2025 season alongside its sponsors in Hawai'i, the organization is continuing to make an impact in local communities.

time-read
4 分  |
December 2024/January 2025
WELCOME TO ELONTOWN, USA
Fortune US

WELCOME TO ELONTOWN, USA

The small town of Bastrop, Texas (pop. 12,000), has become a home base for Elon Musk's business empire. What comes next is anyone's guess.

time-read
10+ 分  |
December 2024/January 2025
100 MOST POWERFUL PEOPLE
Fortune US

100 MOST POWERFUL PEOPLE

Our inaugural, authoritative ranking of the leaders whose innovation and impact have elevated them to the top of the business world.

time-read
10+ 分  |
December 2024/January 2025
ARE CEO SABBATICALS THE ULTIMATE POWER MOVE?
Fortune US

ARE CEO SABBATICALS THE ULTIMATE POWER MOVE?

WHEN VENTURE capitalist Jeremy Liew and his wife were dating, they talked about how one day they would take a year to travel the world. \"That's how we'd know we'd made it,\" Liew says.

time-read
4 分  |
December 2024/January 2025
WHAT ARE THE BEST METRICS FOR MEASURING A STARTUP'S POTENTIAL?
Fortune US

WHAT ARE THE BEST METRICS FOR MEASURING A STARTUP'S POTENTIAL?

IN HIS 2012 ESSAY \"Startup = Growth,\" Paul Graham talks about a 5% to 7% weekly growth rate as table stakes for startup success. If you're growing 10%, he says, you're doing \"exceptionally well.\"

time-read
2 分  |
December 2024/January 2025
TECH POLYMARKET'S ELECTION ACCURACY MADE SHAYNE COPLAN A STAR-BUT AN FBI RAID POINTS TO TROUBLE AHEAD
Fortune US

TECH POLYMARKET'S ELECTION ACCURACY MADE SHAYNE COPLAN A STAR-BUT AN FBI RAID POINTS TO TROUBLE AHEAD

IN NOVEMBER, Shayne Coplan had a week he'll remember for the rest of his life: He got a phone call from the highest echelons at Mar-a-Lago. He went on TV for the first time. And his New York City apartment was raided by the FBI.

time-read
4 分  |
December 2024/January 2025
WHY BIG TECH IS THE NUCLEAR INDUSTRY'S NEW BEST FRIEND
Fortune US

WHY BIG TECH IS THE NUCLEAR INDUSTRY'S NEW BEST FRIEND

OVER THE PAST several years, Big Tech firms like Google and Microsoft have trumpeted ambitious plans to go carbon-neutral, or even carbon-negative, by 2030. But then the generative-AI boom came along and threw a giant wrench in their plans.

time-read
5 分  |
December 2024/January 2025
WHAT PALMER LUCKEY, THE MAN REVOLUTIONIZING WARFARE, IS AFRAID OF
Fortune US

WHAT PALMER LUCKEY, THE MAN REVOLUTIONIZING WARFARE, IS AFRAID OF

PALMER LUCKEY, the founder of the $14 billion Al-powered weapons startup Anduril, has become the face of change in the defense industry.

time-read
5 分  |
December 2024/January 2025
GLOBAL BUSINESS BRACES FOR TRUMP 2.0
Fortune US

GLOBAL BUSINESS BRACES FOR TRUMP 2.0

AROUND THE WORLD in 2024, voters chose change: in South Africa, France, Britain, and Japan. But nowhere does the anti-incumbent trend matter more than in the United States.

time-read
6 分  |
December 2024/January 2025