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IT brands making power and presence felt in list
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INFORMATION technology firms, especially dot-coms, have increasingly become most valuable brands in China, a branding consulting firm said yesterday in Shanghai.
Tencent Inc knocked out last year’s leader China Mobile to rank No. 1 in Interbrand’s 2014 China brand list. Alibaba, whose recent initial public offering was the biggest in the US, ranked No. 3 in the list — a huge improvement from being out of the top 50 last year. The firm generated 57.1 billion yuan (US$9.3 billion) in the Singles Day’s online shopping spree on Tuesday.
It’s a global trend for mobile Internet firms to rise in stature and importance because they are in closer contact with consumers today, according to Interbrand.
“The new ecosystem is cultivating the growth of super brands like TAB in China and has changed the industry makeup of the list,” said Darren Yao, Interbrand’s Shanghai general manager, referring to Tencent, Alibaba and Baidu.
The proportion of total brand value of Internet firms has risen from 11 percent last year to 24 percent in 2014, placing the industry second after banking. Tencent at No. 1, Alibaba at No. 3 and Baidu at No. 11 in particular are surpassing the traditional industries, said Interbrand.
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