It’s not often that a business outlasts an empire. 400 years and 15 generations later, the Avedis Zildjian company is still making a beautiful noise.

Whenever I’m stuck for conversation at a dinner party, I like to ask the person that I’m speaking to if they can name any of the oldest family-run businesses in the world. It’s an unconventional way to get a conversation started, sure, but it always gets interesting results.

Many people will guess the names of oil giants (sorry, too new) or diamond miners (nope, too volatile). Some will hazard a guess at wineries (clever – there is actually a French winery that was operated by the same family for 1000 years). One memorable lady once told me about a Japanese spa hotel that was established in the year 705 and run by 52 generations of the same family before it was taken over by an “outsider” in 2017 (imagine being that guy).

But no-one ever guesses a company that makes cymbals. And that’s why I like to tell people about the history of Zildjian.

There’s a market for noise

The Zildjian story starts in 1618, in what is now known as Istanbul but was then called Constantinople. An Armenian metalsmith and alchemist named Avedis was working in the court of the Sultan of the Ottoman Empire when he came across a way to shape an alloy of tin, copper, and silver into a sheet of metal. Popular anecdotes have it that Avedis was trying to create gold – but instead he created a thin metal that could make musical sounds without shattering.

Sultan Mustafa I was so impressed by Avedis’ invention that he officially granted him the surname Zildjian, which translates to “son of a cymbal maker”, thereby ensuring that Zildjian’s invention would be intrinsically linked to his bloodline. In 1623, Avedis was granted permission to start his own business outside of the palace.

Ottomans of the day had many different uses for cymbals: for starters, there were the Ottoman military bands, who relied on cymbals to make noise that would intimidate their enemies on the battlefield. Cymbals were also used in the services of Greek and Armenian churches, and (on quite the opposite end of the spectrum) by the belly dancers of the Sultan’s harem. So while Avedis’ business operated in a very particular niche, there was no lack of demand for his products.

When the original Avedis passed away, his business and the secret formula for his unique alloy were passed down to his son. And so started one of the most successful succession stories in the history of business.

A harsh clashing of ideas

For 356 years, the descendants of Avedis Zildjian guarded his secret alloy formula and kept his business going strong, despite such challenges as an Armenian massacre, the exile of the head of the family, World Wars 1 and 2, the family’s emigration to the United States, and the Great Depression. 9 generations of Zildjians built on their forefather’s legacy – until the 10th threatened to tear it apart.

Following the death of Avedis the Third in 1979, an acrimonious dispute developed between his sons, Armand and Robert, While Armand was the eldest and the rightful heir to the business, Robert insisted that he was the better businessman. The dispute was settled (on paper, at least) after two years in court, with Armand being granted ownership of the company’s main factory in Massachusetts, while Robert was given the secondary, smaller factory in Canada.

Determined to do things his way, Robert broke away from the family business and used his factory to start a new line of cymbals. This was the birth of the Sabian brand, which would rise to become one of Zildjian’s main competitors for the title of largest cymbal-maker in the world.

Armand and Robert passed away in 2002 and 2003 respectively. Both Zildjian and Sabian have continued to be run exclusively by members of the Zildjian bloodline since then. Between them, these two cymbal brands have cornered more than 65% of the market.

Finding success in succession

Legend has it that the founder of Zildjian was trying to create gold when he stumbled across his proprietary alloy formula. I sometimes wonder how he would feel if he could see the brand that was built on his name celebrating 400 years in business this year. I reckon that legacy is worth more than gold.

So, why did succession work for Zildjian, when it led so many other businesses to failure?

There’s no recipe that guarantees longevity in a business – there are just too many variable factors like brand power, global disasters, technological innovations and the ability to move with the times. That being said, I do think that the Zildjian family has made some smart decisions over the years.

For starters, the secret alloy formula at the heart of the business has stayed a family secret to this day. The Zildjians who do know it are prohibited from sharing it, even with their spouses. As far as this business is concerned, that formula is their main IP, and they’ve guarded it extremely well.

Secondly, Zildjian believes – really believes – in the power of the bloodline. While the business was transferred from male heir to male heir in the early years, in the early 1900s, when the main male heir was exiled, the business was transferred to his daughter instead of to an outsider. Victoria Zildjian was the first female in the family to run the factory, but she wasn’t the last. When it comes to passing the baton, Zildjian favours family over all else.

While staying true to the original nature of the business, Zildjian has also been pliant enough to move with the times and innovate. As you can imagine, making the leap from supplying instruments of war to instruments for rockstars took some careful navigating. Historically, Zildjian has relied on those who use their products – musicians – to collaborate with them and inform them on the innovations that were needed. Musical legends such as Ringo Starr and Gene Krupa have worked closely with the brand to develop specific lines of cymbals for particular genres of music.

Reading the descriptions of board members’ careers on the Zildjian website, you soon notice a familiar pattern. A Zildjian descendant will study a discipline of their choice and find work out in the world that has little or nothing to do with cymbals – but they will stay on the board, with their finger firmly on the pulse of the business. This ensures that the business doesn’t become trapped in a vacuum, as fresh ideas and insights are constantly being introduced from the outside world.

I’ll close with my favourite anecdote about this business, which I read in an interview with Zildjian’s current CEO, Craigie Zildjian. During the interview, Craigie’s four-year-old granddaughter Emilia – a member of the 16th generation of Zildjians – came to sit on her grandmother’s lap. “Are you going to work in the factory one day, Emilia?” Craigie asked her. Without hesitation, the little girl answered “Yes!”

Maybe there is something special in the Zildjian bloodline. Or maybe they’re just really good at linking business with family pride. Either way, I think it will be a really long time before we encounter a family business quite like this one again.

About the author:

Dominique Olivier is a fine arts graduate who recently learnt what HEPS means. Although she’s really enjoying learning about the markets, she still doesn’t regret studying art instead.

She brings her love of storytelling and trivia to Ghost Mail, with The Finance Ghost adding a sprinkling of investment knowledge to her work.

Dominique is a freelance writer at Wordy Girl Writes and can be reached on LinkedIn here.