World’s biggest brands see moderate value growth: Interbrand – Business News

Many of the world’s top 100 brands are in a state of stagnation, according to Interbrand’s Best Global Brand Report 2023 report. Brands grew 5.7% in value this year compared with 16% last year, taking the total brand value to $3.3 trillion ($3.1 trillion in 2022).

Apple remains the top global brand 11 years in a row, the report said, while Airbnb is the fastest-growing.

Interbrand cited lack of growth mindset, conservative brand leadership and uncertain forecasting behind the slowdown. “There is a need for improved business cases and better brand management to drive future investment and sustain growth within traditional sectors and beyond,” Gonzalo Brujó, global CEO, Interbrand, said.

While the top 5 spots on Interbrand’s list have been taken by technology brands, there are three automobile brands and two consumer brands among the top 10.

This year’s top rising brand, Airbnb, saw its value increasing 21.8%. It also jumped eight places on the table — from No. 54 to No. 46. “The brand’s significant increase in value is in part due to its strong investment in brand and solid financial outlook,” the report said.

Airbnb’s revenue was up 40% in 2022 vis-a-vis 2021 and is expected to rise an additional 13% in 2023 (vs 2022).

The strongest performing sectors were automotive and luxury with sector value rising 9% and 6.5%, respectively.

BMW entered the top 10 for the first time, with Porsche (at No. 47), Hyundai (at No. 32) and Ferrari (at No. 70) also performing well.

Zara at No. 43 and Sephora at No. 97 were the two retail stars on the table with brand value rising 10% and 15%, respectively.

Follow us on Twitter, Instagram, LinkedIn, Facebook