Chinese firms dominate new entrants in world's 100 most valuable brands

2019-06-13 00:32:52 GMT2019-06-13 08:32:52(Beijing Time) Xinhua English

NEW YORK, June 11 (Xinhua) -- More Chinese firms have made their presence felt in a ranking of brand value, dominating the newcomers of the world's 100 most valuable brands, showed a report Tuesday.

Nine new brands have made it into the 2019 BrandZ Top 100 Most Valuable Global Brands, a chart predominantly driven by Chinese companies with disruptive business models, according to global communication services provider WPP and brand consultancy Kantar Millward Brown at the New York Stock Exchange.

Of the nine newcomers, four are Chinese, the most among all countries.

The Chinese brands debuting on this year's top 100 list include Didi Chuxing, a car sharing platform; Meituan, an online-to-offline services provider; the smartphone Xiaomi; and Haier, a home appliance ecosystem brand.

The report also showed that China's e-commerce giant Alibaba and tech leader Tencent are among the world's 10 most valuable brands.

Alibaba, growing in brand value by 16 percent year-on-year to 131.2 billion U.S. dollars and moving up two places to No. 7, has overtaken Tencent for the first time to become the most valuable Chinese brand.

Tencent, the Shenzhen-based firm known for its hugely popular multi-functional app WeChat, ranked No. 8 on the list, dropping three places as compared with the previous year after its brand value declined 27 percent to 130.9 billion dollars.

Amazon, with its brand value rising by an impressive 52 percent year-on-year to 315.5 billion dollars, has become the world's most valuable brand, followed by Apple and Google.

Chinese firms are making fast progress in brand value, with 16 Chinese brands appearing in the top 100 compared to merely one in 2006 when the first BrandZ rankings of the world's most valuable brands was unveiled, David Roth, chairman of BrandZ and CEO of the Store WPP Europe, the Middle East, Africa and Asia, told Xinhua on the sidelines of Tuesday's report launch.

In addition to the brands that ranked in the BrandZ Global Top 100, six other Chinese brands appeared in the category rankings, with two Chinese brands in the Insurance Top 10, two in the Energy Top 10, and other two entering BrandZ Beverages Top 15.

"We find that Asian consumers are more open to technology-driven initiatives. As such, more Asian brands are integrating their products and services into consumers' daily life through ecosystem models," said global head of BrandZ Dorren Wang.

According to the report, the global brand landscape has become more volatile and competitive.

In 2006, the brand value threshold for ranking in the Global Top 100 was 4.2 billion dollars. In the 2019, the brand ranking No. 100 has a value of 13.4 billion dollars, a 219 percent increase over 2006.