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
KKR'S $1 TRILLION GAMBLE
Fortune US

KKR'S $1 TRILLION GAMBLE

The co-CEOs of KKR have a radical strategy to supercharge growth - and chart a path far different from that of their mentors, Henry Kravis and George Roberts.

time-read
10+ 分  |
October - November 2024
THE SHIPWRECKED LEGACY OF MIKE LYNCH
Fortune US

THE SHIPWRECKED LEGACY OF MIKE LYNCH

THE BRITISH TECH MOGUL SOLD HIS COMPANY FOR $11 BILLION, THEN SPENT YEARS FIGHTING FRAUD CHARGES. HIS SHOCKING DEATH HAS LEFT MANY UNANSWERED QUESTIONS ABOUT HIS LIFE.

time-read
10+ 分  |
October - November 2024
FORTUNE - CHANGE THE WORLD
Fortune US

FORTUNE - CHANGE THE WORLD

THESE COMPANIES BUILD BUSINESSES AROUND SOLVING SOCIAL PROBLEMS AND THEY DO WELL BY DOING GOOD.

time-read
4 分  |
October - November 2024
Can Cathy Engelbert Handle the Pressure?
Fortune US

Can Cathy Engelbert Handle the Pressure?

The WNBA commissioner and ex-Deloitte CEO is leading the league through a season of historic highs, but critics wonder if her game plan is good enough to seize the moment.

time-read
10+ 分  |
October - November 2024
Kamalanomics: Harris's Road Map for Business
Fortune US

Kamalanomics: Harris's Road Map for Business

Vice President Kamala Harris hasn't done much to woo Big Business. Many executives would still rather take their chances with her than the alternative.

time-read
8 分  |
October - November 2024
Mary Barra
Fortune US

Mary Barra

The CEO of General Motors accelerates into our top spot.

time-read
10+ 分  |
October - November 2024
MPW - MOST POWERFUL WOMEN 2024
Fortune US

MPW - MOST POWERFUL WOMEN 2024

WHEN FORTUNE launched its Most Powerful Women list in 1998, women were just starting to trickle into the C-suite in significant numbers.

time-read
5 分  |
October - November 2024
WHO HAS TIME FOR A POWER LUNCH? THE REAL BUSINESS HAPPENS AT 4 P.M. 'POWER HOUR.'
Fortune US

WHO HAS TIME FOR A POWER LUNCH? THE REAL BUSINESS HAPPENS AT 4 P.M. 'POWER HOUR.'

THE SUN is pouring in through the floor-to-ceiling windows when the bar begins to fill with bespoke suits on a Tuesday in August at Four Twenty Five. The new restaurant from Jean-Georges Vongerichten is on the first floor of a Midtown Manhattan skyscraper, beneath the offices of financial giant Citadel Securities. And the traders are thirsty.

time-read
4 分  |
October - November 2024
HOW TO TAKE ADVANTAGE OF THE FED'S BIG RATE CUT
Fortune US

HOW TO TAKE ADVANTAGE OF THE FED'S BIG RATE CUT

THE WAIT IS OVER. After more than a year of will-they-or-won't-they, the Federal Reserve on Sept. 18 announced the first cut to its benchmark Federal funds rate since the early days of the COVID-19 pandemic, a 50-basis-point drop that Chairman Jerome Powell signaled is likely the first of many.

time-read
4 分  |
October - November 2024
FOR GEN Z AT WORK, THE GENERATION GAP IS A WELLNESS GAP. HERE'S HOW TO BRIDGE IT
Fortune US

FOR GEN Z AT WORK, THE GENERATION GAP IS A WELLNESS GAP. HERE'S HOW TO BRIDGE IT

FOR ONE nonprofit executive director, it was a 2022 New York City subway shooting that highlighted the stark differences between how he, a 55-year-old, and his Gen Z staffers show up to work.

time-read
4 分  |
October - November 2024