If David Tran were a more conventional CEO, he would be a fixture at conferences, a darling of magazine profiles, and a subject of case studies in the Harvard Business Review. Sriracha hot sauce, made by Huy Fong Foods, which Tran founded 33 years ago in Los Angeles, is one of the coolest brands in town. There are entire cookbooks written to celebrate Sriracha’s versatility; memorabilia ranging from iPhone covers to t-shirts and all sorts of other swag; a documentary in the works to chronicle its rise; and innumerable imitators. Sriracha sales last year reached some 20 million bottles to the tune of $60 million dollars, percentage sales growth is in the double digits each year, and it does all this without spending a cent on advertising. Today hot sauce is an emerging global business. The industry, which is among the 10 fastest growing in the US, now rakes in over $1 billion a year in global sales.
Seriously?!?! Over $1 BILLION industry?! Who knew..
Tran also learned only recently that Sriracha has become a popular ingredient among sushi chefs, who have been using it to spice up spicy tuna rolls for years. “I didn’t know until one of my distributors told me,” Tran said. In fact, says Hammond, it’s “almost always the spicy ingredient in spicy tuna rolls these days. It probably makes up a pretty significant portion of their sales.”
Oh yes, my spicy tuna rolls would NOT be the same without it!
Most commercially distributed hot sauces are made with dried chilies to make it easier to harvest, process and bottle the product at scale. McIlhenny, the maker of Tabasco, for example, buys its chilies from producers around the globe. But Sriracha is—and always always has been—made with fresh chilies. It’s what separates it from the competition, says Tran.
His unwillingness to compromise on quality means that the chilies for Sriracha need to be processed within a day of being picked. So Huy Fong’s Rosemead factory sits only an hour away from Underwood Family Farms, which has been the company’s only chili supplier for the past 20 years.
And we don’t want to see it going anywhere anytime soon… Ok, signing off, I’m going to go get myself some Siracha!
If you’d like to read the full article, check it out! http://qz.com/132738/the-highly-unusual-company-behind-siracha-the-worlds-coolest-hot-sauce/