![]() "Cheerful, helpful personnel are as much a trademark of See's as is the logo on the box," he wrote in his 1983 letter. His successor, Brad Kinstler, was "taking the company to new heights," Buffett wrote in 2011.īuffett has also cheered See's customer service. While Huggins was evidently instrumental to See's success, his retirement in 2006 didn't tank the company. ![]() Rather, it is a one-of-a-kind performance." Clearly, Chuck's record at See's is not due to a rising industry tide. "From what we can learn, practically no one besides See's has made significant profits in recent years from the operation of candy shops. "Candy stores are fun to visit, but most have not been fun for their owners," he told investors in 1987. Huggins, whose "love for the customer and the brand permeated the organization," oversaw a tenfold increase in profits during his 34 years at the company, Buffett wrote in 2005. FREE BLIP/BEEP EXPLOSION SOUND EFFECT - NO COPYRIGHT 27,971 views 126 Dislike Share Save Patricia Celso 472 subscribers Subscribe NO PAYMENT FEES - JUST SUBSCRIBE TO MY CHANNEL AS. Remember going to the grocery store and seeing the candy machine on the way out There was Bleep Blips candy (aka mega bites) They were round like sweet tarts. "Upon reviewing his record, you may wonder what took us so long." "Charlie and I put Chuck Huggins in charge of See's about five minutes after we bought the company," he wrote in his 1988 letter. "I don't think he'd want to take us on in candy."īuffett has frequently praised See's management and store employees. "Elon may turn things upside down in some areas," he said at the next annual shareholder meeting, according to Fortune. When Tesla CEO Elon Musk criticized economic moats like brand loyalty as " lame" on an earnings call in 2018, Buffett fired back. Unsurprisingly, See's has raised its prices from less than $2 a pound in 1972 to more than $20. The attractive brand image allows the company to base its selling prices on the value of the product to the customer, not the cost of producing it, he added. See's also enjoyed a "pervasive favorable reputation with consumers based upon countless pleasant experiences they have had with both product and personnel," Buffett wrote in his 1983 letter. 1 LB Bag - 6.95 Add Ice Pack + 1.20 Details Bleeps Sour Candy Looking for sour and tangy candy You’ve reached the best 1.25 inch candy-coated bleeps with flavors like Blue Raspberry, Cherry, Watermelon, Orange, and Pineapple. "If we can get that in the minds of people, we can raise prices." "They had taken a box on Valentine's Day to some girl and she had kissed him … See's Candies means getting kissed," he added. "Every person in California has something in mind about See's Candies and overwhelmingly it was favorable," Buffett told a group of business-school students at the University of Florida in 1998. Two of the key competitive advantages of See's are its famous brand and loyal customer base, which make it easy to charge more and tough for rivals to steal business. Warren Buffett (left) and Elon Musk (right)
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