Saturday 27 February 2021

Aramco remains 'most valuable brand' in Middle East

DUBAI, January 26, 2021

Saudi Aramco has retained its position as Middle East’s most valuable brand, despite recording a 20% brand value loss to $37.5 billion, while globally Apple reclaimed the position of world’s most valuable brand from Amazon.
ADNOC is second most valuable brand in region with a brand value of $10.8 billion, according to Brand Finance Global 500 2021 ranking.
Fastest network in world, Etisalat, is region’s strongest brand with a Brand Strength Index (BSI) score of 87.4 out of 100 and only brand in region with AAA brand strength rating. stc is the region’s fastest growing brand with its brand value up 14%.
Five years since it last held top spot, Apple has been named world’s most valuable brand by the ranking as diversification strategy finally paid off (brand value of $263.4 billion).
Accounting for 14% of total brand value in the 2021 ranking, tech remains most valuable sector in the Brand Finance Global 500. E-commerce brands have thrived in the new normal, with doubling in brand value, but chain retailers are cash in on home delivery too – Walmart climbs up to 6th rank.
WeChat overtook Ferrari to become world’s strongest brand with a top score of 95.4 out of 100 and AAA+ brand strength rating.
David Haigh, CEO of Brand Finance, commented: “As the UAE approaches its 50th anniversary in December, the nation continues to flourish and showcase its accomplishments in undertaking an impressive growth trajectory, under the visionary leadership of Sheikh Khalifa bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum and Sheikh Mohammed bin Zayed Al Nahyan. The nation’s world-class brands are helping spearhead global transformation across their respective industries – from Adnoc’s innovation in sustainability, Etisalat’s accomplishment becoming the fastest network globally, DP World’s position as a leader in logistics to Emirates flying the flag – quite literally – the world over. 
"Recent events have truly demonstrated the nation’s position on the global stage, from its efforts in the face of the pandemic, including international aid to vaccine development, to the historic peace deal with Israel - the UAE is demonstrating that it is a force to be reckoned with. We have seen the transformation from desert to Mars – what will the next 50 years hold?”
Oil & gas brands lead the way  
Saudi Aramco retains its position as the region’s most valuable brand in the Brand Finance Global 500 2021 report, despite recording a 20% brand value loss to US$37.5 billion. Owing to the sheer size and scale of the business, as well as its low costs of production, Saudi Aramco has been in a stronger position to negotiate the fallout from the pandemic than many of its counterparts, but still suffered a significant hit to profits. 
While brand value has fallen, Aramco’s brand strength has remained stable. Other intangibles such as relationships, particularly with the Saudi Arabian government, play a greater role in performance.
Haigh commented: “Aramco is the hidden giant of the oil industry whose brand has finally emerged into the light of public attention. It has always been known as a b2b brand but has aspirations to become a well-known consumer brand. At present its scale is huge but its brand equity is at an early stage of development. We believe that over the next decade the brand will grow from strength to strength as it enters the world stage.” - TradeArabia News Service


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