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TRUST DETERMINES BRAND VALUE, SAYS BRANDZ REPORT

BY ARUSHI KAPOOR

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Indian brands saw a 6% rise in overall brand value to $228.2 billion, as per the sixth edition of the BrandZ Top 75 Most Valuable Indian Brands 2019, unveiled by WPP and Kantar Millward Brown recently. While there was a substantial dip in growth this year, as compared to the 34% growth in 2018, the top 10 brands have continued to grow steadily, with the top three brands on the list, namely, HDFC Bank, Life Insurance Corporation of India (LIC) and Tata Consultancy Services (TCS) making it to BrandZ’s Top 100 Most Valuable Global Brands list.

HDFC Bank, which topped BrandZ’s Top 75 Most Valuable Indian Brands 2019 list for the sixth consecutive year, and was the sole brand to be featured in the global 100 list last year, has seen its brand value grow by 5% this year to touch $22.7 billion, in contrast to the 8% decline in value of the top 20 global banks. Second-ranked LIC’s brand value rose by 2% to approximately $20 billion, while third-ranked TCS’ brand value rose 21% to approximately $18 billion.

According to Preeti Reddy, CEO South Asia, Insights Division, Kantar, “Brand trust is becoming increasingly important for a brand’s value. The brands which are the most trusted have grown five times faster than the Top 75 brands, and are worth 129% more. Thus, brands would do well to consciously work at building consumer trust – it is the shield that gives a brand the resilience to face headwinds in uncertain times, and this requires long-term sustained investment.”

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