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SOEs rank as valuable brands
Source: Agencies |
December 14, 2011, Wednesday
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Print Edition
Print Edition
CHINA'S most valuable brands, led by China Mobile, are huge, state-owned enterprises from telecoms, financial services and the Internet, though none are household names overseas.
But that big brand value may begin to translate into broader awareness as Chinese firms venture abroad for acquisitions and new markets, and become more sophisticated in connecting with consumers.
"Eighty percent of consumers outside China can't name a Chinese brand," Doreen Wang, a group account director at brand consultancy Millward Brown, part of the WPP advertising group, said yesterday.
Only computer maker Lenovo Group, 16th in this year's BrandZ Most Valuable Chinese Brands Top-50, or Tsingtao Brewery Co, ranked 35, are on non-Chinese radar, she said.
However, 12 Chinese brands were on Millward Brown's list of the 100 most valuable brands in the world. Released in May, that list was topped by Apple Inc, with the iPhone and iPad maker's brand worth US$153 billion. China Mobile, whose brand is now valued at US$53.6 billion, then ranked 9th.
Foreign companies seeking to enter the Chinese market would do well to study Chinese brand development, said Adrian Gonzalez, Millward Brown's head of China operations, noting the rise of the Internet as the biggest factor in shaping the perception of Chinese brands in recent years.
"I think that's probably the biggest differential in China to a lot of foreign markets right now," he said. "It's not just the numbers, but it's the connectivity of consumers," Gonzalez said.
Six companies dropped out of the China top-50 this year, and automaker BYD Co, backed by billionaire investor Warren Buffett, slumped to 48th from 19th a year ago, with its brand value sliding to US$353 million from US$2.1 billion.
Six of the top 50 Chinese brands did not exist 10 years ago, but some are much older and turn their heritage to their advantage, Wang said, noting liquor firm Kweichow Moutai Co, which dates back to 1915, and traditional Chinese medicine maker Tong Ren Tang Technologies, which was founded in 1669, around the time of the Qing Dynasty (1644-1911).
"They inject not only historical charm but a modern feel, enabling them to have better communication with the younger generation," Wang said.
But that big brand value may begin to translate into broader awareness as Chinese firms venture abroad for acquisitions and new markets, and become more sophisticated in connecting with consumers.
"Eighty percent of consumers outside China can't name a Chinese brand," Doreen Wang, a group account director at brand consultancy Millward Brown, part of the WPP advertising group, said yesterday.
Only computer maker Lenovo Group, 16th in this year's BrandZ Most Valuable Chinese Brands Top-50, or Tsingtao Brewery Co, ranked 35, are on non-Chinese radar, she said.
However, 12 Chinese brands were on Millward Brown's list of the 100 most valuable brands in the world. Released in May, that list was topped by Apple Inc, with the iPhone and iPad maker's brand worth US$153 billion. China Mobile, whose brand is now valued at US$53.6 billion, then ranked 9th.
Foreign companies seeking to enter the Chinese market would do well to study Chinese brand development, said Adrian Gonzalez, Millward Brown's head of China operations, noting the rise of the Internet as the biggest factor in shaping the perception of Chinese brands in recent years.
"I think that's probably the biggest differential in China to a lot of foreign markets right now," he said. "It's not just the numbers, but it's the connectivity of consumers," Gonzalez said.
Six companies dropped out of the China top-50 this year, and automaker BYD Co, backed by billionaire investor Warren Buffett, slumped to 48th from 19th a year ago, with its brand value sliding to US$353 million from US$2.1 billion.
Six of the top 50 Chinese brands did not exist 10 years ago, but some are much older and turn their heritage to their advantage, Wang said, noting liquor firm Kweichow Moutai Co, which dates back to 1915, and traditional Chinese medicine maker Tong Ren Tang Technologies, which was founded in 1669, around the time of the Qing Dynasty (1644-1911).
"They inject not only historical charm but a modern feel, enabling them to have better communication with the younger generation," Wang said.
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