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The rise of Chinese companies up the ranks of the annual list of the world's most valuable global brands was one of the most striking factors of the Brandz Top 100 report released on Monday. Equally noticeable is the dearth of Indian firms.
Two Chinese firms made it to the top 20 as China Mobile scored 9th place, with an estimated brand value of $69 billion, and ICBC ranked 11th in the list compiled by WPP subsidiary Millward Brown Optimor. Other Chinese brands on the list include search engine Baidu (29th) and Bank of China (37th).
Despite a total of 19 BRICS companies making it to the list, there was just one Indian name: ICICI Bank at 53rd place. Not a Tata or Reliance was to be seen.
“There are some Indian brands that are starting to show through, we expect them to keep moving up in years to come,” Mr Nick Cooper, Managing Director of Millward Brown Optimor, told Business Line .
He argues it's just a matter of time and that it took a while for the Chinese brands to move through as they invested heavily in their brands. “Baidu, for example, has very much fitted itself around the needs of China and developed a real brand,” Mr Cooper said. The growth in the value of the top 100 rose by 17 per cent last year this “makes entering it (the list) a moving target,” he added. Mr David Roth of WPP says it's also to do with the structure of the survey, which deals with individual brands and their value to consumers rather than to corporations. “Tata's position would have been different when you look at it in totality with global holding companies,” he told Business Line . “When I wind my clock forward ten years I see big changes.”
The most successful brands were those that gave the customer “unbelievable value for money,” and embraced the digital space, said Mr Roth.
Apple topples Google
The list saw a number of big upsets including of Google, which was knocked off its top position by Apple. Apple's brand value rose an astonishing 84 per cent to $153 billion. McDonald's also saw a resurgence, rising two places to the fourth as fast-food became the fastest growth area, according to the research. For the first time Facebook made it to the list, at 35th place.
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