Saudi Aramco has been named as the most valuable brand in the Middle East, according to the 2023 Kantar BrandZ Most Valuable Global Brands report. The company has moved up 5 places from previous rankings with an overall brand value increase of 7 percent.
The report which covers the most valuable global brands shows a whopping $1.9 trillion increase since 2020, in aggregated value for the top 100 brands.
The top three brands in this year’s report was Apple, Google and Microsoft. Microsoft overtook Amazon to take the spot in the top three.
Apple, with a brand valuation of $800 billion, has proved to be resilient in the face of testing market conditions.
Martin Guerrieria, Head of Kantar BrandZ said, “This year’s results – despite the fall in aggregate value – are, in fact, a continuation of the long-term growth trend for brands, which began following the global financial crisis of 2008 and continued up until the start of the pandemic in 2020.
“While the market has proved volatile and been greatly impacted by global macroeconomics, consumers’ view of brands has proved far more stable – the most valuable brands in the world remain as highly regarded as ever. The lessons for brand owners and marketers remain clear; effective marketing investment and long-term thinking are vital to your business’ growth prospects.
“Those brands consistently investing in establishing strong consumer connections are now much better placed to navigate the current volatile conditions and deliver a greater degree of resilience for their shareholders”.
Source: Arabian Business