Apple has overtaken Amazon to become the world’s most valuable brand for the first time in five years, according to a global report.
The tech giant’s brand value has risen 87% last year to $ 263.4 billion, according to the Brand Finance Global 500 2021. The increase was down to Apple’s diversification strategy, which has seen the company expand into digital and underwriting services and potentially into electric cars in the future, said London-based brand finance consultancy Brand Finance.
Apple AAPL,
became the first U.S. company to reach a $ 2 trillion market cap in August last year. It is also expected to record its highest quarterly revenue in history and the first total totaling more than US $ 100 billion when it reports earnings on Wednesday.
“While Apple regains the title of the world’s most valuable brand on Amazon five years since it last took the top spot, we are once again witnessing Think Different. From the Mac to the iPod, to the iPhone, to the iPad, to the Apple Watch, to subscription services, to infinity and beyond, ”said David Haigh, executive director of Brand Finance.
AMZN from Amazon,
brand value grew 15%, to $ 254.2 billion, in a year that has seen the e-commerce giant benefit from worldwide home orders and growing demand. The company has also innovated and expanded in recent months, launching an online drug store and Halo fitness tracker. Earlier this month, Amazon bought its first fleet of aircraft, from Delta and WestJet, to expand its airline network. However, the company lost its first place to Apple.
Google GOOG Technical Giant
has the third highest brand value, up 1.4% to $ 191.2 billion, while rival Microsoft MSFT,
came in fourth with a brand value of $ 140.4 billion, a 20% increase, and the Samsung 005930 conglomerate,
remained in fifth place. Walmart WMT Retailer,
passed two places in sixth place, while the social networking company Facebook FB,
he finished in seventh place.
In a year dominated by COVID-19, technology and innovation helped drive the value of the world’s biggest brands, with the Uber UBER app
and the Chinese e-commerce platform Meituan 3690,
enjoying strong growth.
But Tesla TSLA,
it was the fastest-growing global brand in terms of value last year, jumping 158% to $ 32 billion. Brand Finance said record sales figures, increased production and expansion into new markets helped boost the electric car maker’s brand.
While some sectors have performed well, others have had a difficult year. Airlines and aerospace brands accounted for six of the top ten brands: Boeing BA,
American Airlines AAL,
United Airlines UAL,
Delta DAL,
Airbus AIR,
and Safran SAF,
Hotels also had a tough year 2020 due to travel restrictions and blocking measures, with Hilton’s HLT,
the value of the brand falls 30% to $ 7.6 billion, while Marriott MAR,
fell out of the top 500, along with Airbnb ABNB,
Read: What will happen to air fares in 2021?
According to the consultant, the value of a brand is the economic benefit it would get if it were licensed in the open market.
The combined value of the UK’s 21 brands among the top 500 in the world fell 11% year-on-year, making it the worst-performing country as Brexit uncertainty and the COVID-19 pandemic affected ‘economy. Major oil company Royal Dutch Shell RDSA,
maintained its place as the most valuable brand in the UK, but fell 11% to $ 42.2 billion, while rival BP BP, ranked second,
fell 8% to $ 21.4 billion.
“As the launch of the vaccine progresses, it will be interesting to see which British brands thrive and which will fall apart as they navigate a future outside the European Union,” Haigh said.
The index also includes brand strength, which is calculated as the effectiveness of a brand’s performance relative to its peers.
Chinese mobile app WeChat replaced vehicle manufacturer Ferrari RACE,
as the strongest brand in the world. WeChat ran several government-mandated health applications to track people who were traveling and were in quarantine, providing access to real-time data on COVID-19 and online consultations and self-diagnosis services, according to the index , which increases its brand.