Amazon and Apple may be the world’s most valuable brands, but Chinese brands are rising up the leaders list.
The major brands from China are now becoming more valuable than Europe’s top brands, according to a global ranking by Kantar’s BrandZ. Amazon remains top of the tree with an estimated value of $684bn, followed by Apple at an impressive $612bn and Google at $458bn, Kantar said.
Tencent, China’s biggest social media and video games company was the People’s Republic’s top brand in fifth place, while Alibaba was in seventh place.
“Chinese brands are steadily and slowly progressing, and have made significant headway as more companies leverage their own technological developments and demonstrate their abilities to align with the major trends shaping China and the global market,” said Graham Staplehurst, Global Strategy Director at Kantar BrandZ.
Four Chinese brands in the list have impressively more than doubled their value. These brands are the e-commerce giants Pinduoduo and Meituan, China’s top liquor maker Moutai and China’s TokTok.
The world’s top 100 brands were worth a combined $7.1tn, Kantar said in their report.
