Coca Cola ‘world’s top brand for 11th year’
Dubai, September 16, 2010
Coca Cola has retained its top spot as the number one ranked brand for the 11th straight year, boasting a brand equity value of $70,452 million, on a list of top 100 brands for 2010.
Technology brands continue to lead the pack, with IBM (No.2), Microsoft (No.3), Google (No.4), Intel (No.7), and HP (No.10) earning top rankings, according to an annual ranking published by Interbrand, a leading brand consultancy.
Google (No.4) sees a 36 per cent increase in value over last year, bringing the brand closer than ever to rival Microsoft (No.3). HP (No.10) enters the top 10 for the first time, having increased brand value under a new business model and brand platform, said the report.
“Apple increased brand value through carefully controlled messaging and an endless wave of buzz surrounding new product launches,” said Matthew Millard-Beer, regional director, Middle East at Interbrand.
“HP is expanding its portfolio into a service provider offering through smart acquisitions and a strong brand platform.”
“BlackBerry remains the most popular smartphone for business users, holding off pressure from Apple as it edges into the corporate world. It will be interesting to see how Blackberry’s brand value holds up next year should a resolution not be met in regards to meeting Middle Eastern government pressures to open up its services,” Millard-Beer added.
Apart from grappling with the aftermath of last year’s financial meltdown, 2010 presented a number of prominent brands with extraordinary levels of crisis, resulting in stalled growth, value loss and in the case of BP, failure to make the ranking this year.
BP’s environmental disaster and inability to make good on its brand promise of “Beyond Petroleum” led to it falling off of the list and helped competitor Shell emerge as an industry leader, now ranked number 81, up from number 92 in 2009, the report said.
Toyota (No.11), a key player in the Middle East’s automotive industry suffered a 16 per cent loss in brand value due to a recall, but managed to weather the crisis better than expected due to its long-standing reputation for reliability, efficiency and innovation.
Goldman Sachs (No.37) was once the envy of Wall Street, but now faces the dichotomy of strong economic results and an angry public that will continue to lash out until the company begins to demonstrate that it is making sincere efforts to better align its ethics with its brand.
Despite the economic downturn, luxury brands Cartier (No.77), Armani (No.95), Louis Vuitton (No.16), Gucci (No.44), Tiffany & Co (No.76) and Hermes (No.69) all saw the value of their brands increase in 2010, according to the rankings.
“By investing in their heritage and legendary status, these brands have successfully been able to engage new consumers by constantly innovating and evolving their touch points. Armani’s first-ever hotel in the world’s tallest tower, Burj Khalifa in Dubai, is great example of this innovation,” said Millard-Beer.
Interbrand’s ranking is developed using a unique methodology which analyses the many ways a brand impacts and benefits the organisation. – TradeArabia News Service