Friday, July 19, 2024

11 Chinese firms in Kantar’s valuable global brands’ list

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Ti Gong

The latest Kantar BrandZ Most Valuable Global Brands ranking includes 11 Chinese firms.

Tencent, Moutai, and Alibaba are the top three Chinese brands, ranked 10th, 18th, and 28th, respectively.

Pinduoduo is among the top ten, with its brand value increasing by 61 percent to US$20.3 billion, along with business technology and social media titans such as NVIDIA, Instagram, Facebook, and Google Cloud.

Due to volatile macroeconomic conditions and market uncertainties, three Chinese companies were out of the global top 100 list, but the potential and durability of Chinese brands across the globe remain visible.

The dropouts were Shein, Meituan, and JD.

“Despite the challenges, we believe that Chinese brands can fully leverage their meaningful differentiation to attract more consumers, enhance market salience, and find new space for future growth,” said Doreen Wang, Kantar China CEO and global chair of Kantar BrandZ.

Tencent has expanded into the media and entertainment sectors, as well as business technology and services platforms, retaining its place in the global top ten, while Tiktok/Douyin has maintained its strong brand vibrancy.

Globally, the overall brand value of the top 100 brands increased by 20 percent to US$8.3 trillion, nearing the peak of US$8.7 trillion in 2022, demonstrating the resilience of leading brands.

Apple achieved a historic milestone by becoming the world’s first trillion-dollar brand and remaining No. 1 for the third consecutive year.

NVIDIA jumps 18 places to No. 6 in the 2024 ranking, with a 178 percent gain in brand value due to artificial intelligence’s exponential growth.

To measure overall brand equity, Kantar BrandZ’s ranking includes financial research, corporate market valuation, and consumer brand preferences, as well as how these translate into purchasing habits and price premiums.

Lululemon, Aldi, and Corona are among the five newcomers, showing the increasing retail and consumption industry, while Amazon remains the most valuable retail brand, with a 6 percent increase in brand value.

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