Chinese brands gaining on world鈥檚 best
Print Edition
Amazon and Apple are the world鈥檚 most valuable brands but Chinese brands are rising up the leaders list and are more valuable than Europe鈥檚 top brands, according to a global ranking by Kantar鈥檚 BrandZ.
Amazon, founded in 1994 by Jeff Bezos, remained the world鈥檚 most valuable brand with an estimated value of US$684 billion, followed by Apple, founded in 1976, at US$612 billion and Google at US$458 billion, Kantar said.
Tencent, China鈥檚 biggest social media and video games firm, was the People鈥檚 Republic鈥檚 top brand, in fifth place, while Alibaba was in seventh.
鈥淐hinese brands are steadily and slowly progressing, and have made significant headway as more companies leverage their own technological developments and demonstrate their abilities to align with the major trends shaping China and the global market,鈥 said Graham Staplehurst, global strategy director at Kantar BrandZ.
Five brands more than doubled their value, led by Chinese e-commerce giants Pinduoduo and Meituan, China鈥檚 top liquor maker Moutai, China鈥檚 TikTok and America鈥檚 Tesla.
Tesla, founded in 2003, was the fastest-growing brand and became the most valuable car brand, growing its value by 275 percent year-on-year to US$42.6 billion, Kantar said.
Top Chinese brands consolidated their lead over top European brands: China accounted for 14 percent of the top 100 brands, up from 11 percent a decade ago, while European brands accounted for 8 percent, down from 20 percent a decade ago, Kantar said.
The top European brand was France鈥檚 Louis Vuitton in 21st place, followed by German SAP software group in 26th. The only British brand on the list was Vodafone in 60th place.
The world鈥檚 top 100 brands were worth a combined US$7.1 trillion, Kantar said.
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