Hidden champions

Hidden champions are relatively small but highly successful companies that are concealed behind a curtain of inconspicuousness, invisibility, and sometimes secrecy. The term was coined by Hermann Simon. He first used the term in 1990 as a title of a publication in a scientific German management journal, describing the small, highly specialized world-market leaders in Germany. According to his definition, a company must meet three criteria to be considered a hidden champion:

• Number one, two, or three in the global market, or number one on the company's continent, determined by market share
• Revenue below $5 billion
• Low level of public awareness