Three from UAE among world's most valuable brands
Etisalat, Adnoc and Emirates airline are among the world's 500 most valuable brands
Three brands from the UAE - Etisalat, Adnoc and Emirates airline - figure among the world's 500 most valuable brands, according to the latest Brand Finance Global 500 report.
Growing on average 13 per cent in brand value since 2018, a total of five Middle Eastern brands, including the three star performers from the UAE, have cemented their place on the global branding scene across a variety of sectors: oil and gas, telecoms, airlines and banks, the report said.
David Haigh, CEO of Brand Finance, said the outstanding performance of the UAE brands is a real testament to the leadership of the country. "Emirati brands are leading the charge for the Middle East, among the world's most valuable brands. As celebrations for the 'Year of Zayed' wrap up, we recognise the achievements, will and determination of the UAE's Founding Father, His Highness the late Sheikh Zayed bin Sultan Al Nahyan."
Etisalat, which boasts of a portfolio of brands such as Etisalat Misr, Mobily, Ufone, Maroc Telecom, PTCL and Etisalat Afghanistan, was recognised for its impressive portfolio of brands becoming the first Middle East group to break the $10 billion barrier in terms of wider portfolio value.
The company has also seen an eight per cent growth since last year, resulting in becoming the first Middle Eastern brand to hold such a wide portfolio. For the second consecutive year, Etisalat also retained its position as the most valuable consumer brand in the Middle East and Africa.
"We are proud to achieve the recognition as the most valuable portfolio brand and the first Middle Eastern brand to break the $10 billion barrier in terms of wider portfolio value in the Mena region. Thanks to the UAE leadership's support, vision and encouragement that helped Etisalat achieve this significant milestone surpassing some of the top renowned regional brands. This achievement is also due to our continuous efforts in digital transformation whereby we have amplified our reach and presence in a highly competitive marketplace by investing in new digital platforms and global brand building initiatives. Etisalat's success as a brand was also reinforced by the synergy of operating companies across our footprint, creating brand loyalty and enhanced engagement with our customers," said Saleh Abdullah Al Abdooli, CEO, Etisalat Group.
Adnoc, a new entrant to the Brand Finance Global 500, boasts a brand value of $8.9 billion. Since launching its new unified brand in 2017 and bringing the brand's various subsidiaries under a common identity, Adnoc has amplified the scale of its business and contribution to the UAE's economy.
Adnoc has opened its first fuel stations in Dubai and Saudi Arabia, announced plans to increase its oil production capacity to four million barrels per day by the end of 2020 and has also been making progress on its integrated 2030 Strategy, which is aimed at balancing market conditions with long-term future growth.
Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Adnoc Group CEO said in line with the leadership's guidance, Adnoc has been undergoing a significant business transformation, underpinned by innovative partnerships and investments that are key to unlocking and maximising value across our full portfolio.
"Adnoc's transformation and growth strategy has been supported by transparent, proactive and strategic communications and marketing, which have played a critical role in reinforcing the scale of our business, the size of our contribution to the UAE's economy, and the extent of our impact on the global oil and gas industry. This honour is a well-deserved recognition of the hard work and dedication of all our employees who are reshaping the company, as we forge ahead with our integrated 2030 growth strategy and further unlock, enhance and create value from all our resources," Dr Al Jaber said.
Emirates airline has cemented its place as the world's 329th most valuable brand with a solid brand value growth of 18 per cent since last year to $6.3 billion. The flagship airline's success is a nod to the brand's ability in attracting passengers to Dubai as a travel hub.
"Emirates continues to offer ideal connection routes to passengers across the globe who are transiting in Dubai before continuing with onward travel. In the past year, the airline has successfully launched new passenger services to London Stansted and Santiago Chile, as well as introducing a new linked service from Dubai via Bali to Auckland. In addition to measuring overall brand value, Brand Finance also evaluates the relative strength of brands through the Brand Strength Index (BSI) - a balanced scorecard of factors including marketing investment, customer familiarity, staff satisfaction, and corporate reputation. Along with the level of revenues, brand strength is a crucial driver of brand value," Brand Finance Global 500 report said.
While Ferrari accelerates to claim the title of the world's strongest brand, with a score of 94.8 out of 100 and an AAA+ rating, three of the Big Four brands: Deloitte, PwC, and EY, post an elite AAA+ brand strength rating, while KPMG trails behind. Amazon defends prime position as the world's most valuable brand following 25 per cent growth to $187.9 billion, with Apple and Google placed 2nd and 3rd. As tech brands lead the ranking, Microsoft makes a comeback to top five with 47 per cent brand value growth, while Facebook sees its brand strength tarnished by scandals, said the report.
China's answer to Netflix, iQiyi is the world's fastest-growing brand of 2019, up a whopping 326 per cent year on year, three times the 105 per cent hike by its US counterpart. Brands from China climb up the ranking as the country's total brand value in the Brand Finance Global 500 breaks $1 trillion.
Airlines have been pleading for another $25b in payroll support to... READ MORE
It may be the right time to invest as realty prices may soon go... READ MORE
Arabtec posted a Dh774.5 million net loss in 2019, citing weaker... READ MORE
I have faced a lot of challenging incidents in my life. I have... READ MORE
On the first day without the PRC's help, it took the PCG around 24... READ MORE
635,000 passengers have travelled to India from UAE on Vande Bharat... READ MORE
He has been participating in the promotion for 10 years now. READ MORE
Nearly 12 million Covid-19 tests have been carried out in the UAE so... READ MORE