Jio named as world’s 5th strongest brand (Ld)
New Delhi, Jan 28 (IANS) Newcomer Jio has entered Brand Finance ranking for first time and is named worlds 5th strongest brand with Brand Strength Index (BSI) score of 91.7 out of 100.
According to the Brand Finance Global 500 2021 Ranking, entering the ranking for the first time this year and claiming the title of the world’s 5th strongest brand, is Indian telecoms giant, Jio, with a BSI score of 91.7 out of 100 and the elite AAA+ brand strength rating.
“Despite only being founded in 2016, Jio has quickly become the largest mobile network operator in India and the third largest mobile network operator in the world, with almost 400 million subscribers. Renowned for its incredibly affordable plans, Jio took India by storm through offering 4G to millions of users for free, simultaneously transforming how Indians consume the internet – known as the ‘Jio effect’,” Brand Finance said.
“The dominance of the brand across the nation is evident from the results from Brand Finance’s original market research. Jio scores highest in all metrics – consideration conversion, reputation, recommendation, word of mouth, innovation, customer service and value for money – compared to its telecom competitors in India. The brand has no major weaknesses within the sector, and unlike other telecoms brands globally, Jio has shown that it has broken the mould, and enjoys genuine affection from consumers”, the report said.
Tata retains title of India’s most valuable brand consolidating its top 100 position, climbing 7 spots to 77th globally with a brand value of $21.3 billion.
Apple has overtaken Amazon and Google to reclaim the title of the world’s most valuable brand for the first time since 2016, according to the latest report by Brand Finance – the world’s leading brand valuation consultancy.
Apple has the success of its diversification strategy to thank for an impressive 87% brand value increase to $263.4 billion and its position at the top of the Brand Finance Global 500 2021 ranking.
As new technologies drive brand value across industries, Tesla leaves traditional auto marques behind with fastest brand value growth in ranking, up 158 per cent.
E-commerce brands thrive in new normal, with Alibaba.com doubling in brand value, but chain retailers cash in on home delivery too – Walmart climbs up to 6th rank
Traditional media brands continue to suffer as lockdowns boost popularity of streaming services – CBS is fasting-falling brand in ranking, down 49 per cent.
Airline and aerospace sectors account for 6 out of 10 fastest-falling brands in ranking, while hospitality brands Marriott and Airbnb check out from ranking.
WeChat overtakes Ferrari to become world’s strongest brand with top score of 95.4 out of 100 and AAA+ brand strength rating.
Tata retains its title as the most valuable Indian brand in the ranking, climbing 7 places to 77th with a brand value of $21.3 billion. It has stretched its lead over other Indian brands to $12.6 billion in brand value terms.
“The venerable brand has led from the front in combating COVID-19 in the country by committing approximately $200 million (Rs 1,500 crore). The Tata brand is deeply ingrained in the fabric of India and is by far the most global Indian brand. The brand spans IT services, Steel, Automotive, Consumer & Retail, Infrastructure, Financial Services, Aerospace & Defence, Tourism & Travel and Telecoms & Media”, Brand Finance said.
Most of the group’s value stems from its IT services subsidiary, Tata Consultancy Services (TCS) which has grown by 11 per cent in value this year to $14.9 billion on the back of increased demand for its core transformation services, according to the Brand Finance IT Services 25 2021 report. The group has been busy transforming its sprawling group of companies as it responds to pressures at home and abroad. Domestically the group is poised to capture growth from rising consumer incomes and urbanisation by leveraging the strong and trusted Tata brand.
The recently restructured consumer products subsidiary, Tata Consumer Products which has performed admirably in the past 12 months is a prime example. The group has ambitious plans in ecommerce with plans for a super app to stitch together its offering across its different consumer brands.