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HDFC Bank is ‘India’s Most Valuable’ brand in BrandZ Top 50 ranking

Global research agency Millward Brown, in conjunction with WPP, yesterday released the rankings. Airtel, State Bank of India, ICICI Bank and Bajaj Auto are among the Top 5 brands

Sarmistha Neogy | Mumbai | August 20, 2014

brandz-logoFor the first time ever in the country, global research agency Millward Brown, in conjunction with WPP, yesterday released the BrandZ Top 50 Most Valuable Indian Brands. HDFC Bank took the first spot as India’s most valuable brand with a value of $9.4 billion, followed by Airtel ($8.2 bn), State Bank of India ($6.8 bn), ICICI Bank ($3.5 bn) and Bajaj Auto ($3 bn) among the top five brands. The combined brand value of all the brands in the ranking is almost $70 billion.

Commenting on the reason behind its launch in India, Sir Martin Sorrell, CEO, WPP Group, said, “Growth in India has bettered in the last few years. Post election the mood has improved and there is optimism all around. India has thus become the hotbed for both growth and development. We started with BrandZ Top 50 in China and within three years went to Top 100. Our belief is that we will get to see it in India as well.”

All the brands which made it to the Top 50 list had to pass the following eligibility criteria: the brand or corporate brand owner was publicly traded in India; it reported positive earnings; it operated in a consumer facing category, not B2B; and in the case of banks, at least 25 per cent of business came from retail business. A simple formula was used to derive at the Brand Value: Financial Value * Brand Contribution = Brand Value.

It is the only valuation in India that takes into account the consumers’ opinion of brands to calculate the contribution that product brands make to turn a business successful. The rankings combine rigorously analysed financial data from Bloomberg and Kantar Worldpanel with consumer opinions gathered for over 500 brands in 37 categories.

The study revealed some interesting insights. In the Top 50 list, 17 are multinational corporations (MNCs), 26 are private Indian brands, and seven are state-owned brands. Services businesses (banking, telecom and insurance) were prominent in the ranking. Seven of the Top 10 brands and 30 per cent of the Top 50 brands come from the service sector. Telecom, Personal care, and the Food and Dairy sector also featured strongly in the list.

Some of the key findings highlighted in the report are: India’s most valuable brands are highly relevant to consumers and differentiate themselves through service, new offerings and brand experiences. India has evolved into a brand powerhouse: its Top 50 most valuable brands have as much Brand Power as the Global Top 50. Together, MNCs and private sector players contribute around 85 per cent of the total brand value. Like other fast growing economies, India is dominated by a handful of big brands or companies that own stables of brands. ‘Indianizing’ products and services is important, and the old and the new brands sit side by side in the list. This indicates that India is an open, fertile market for building valuable brands, irrespective of age, origin, structure, category, ownership or even price range.

In addition to the rankings, special awards were also presented to the Top 50 brands in the evening. HDFC Bank was awarded the ‘Most Valuable Indian Brand’, followed by Airtel, State Bank of India, ICICI Bank and Bajaj Auto.

Dabur bagged the ‘Oldest Brand’ award and IDBI Bank got the ‘Youngest Brand’ award.

There was a tie between Fair & Lovely and Colgate for the ‘Most Meaningful Brand’ award. Kingfisher got the ‘Most Differentiated Brand’ award and Fair & Lovely got the ‘Most Salient Brand’ award.

Hindustan Unilever won the ‘Brand Builder Award’ and everyone’s favourite ‘Maggi’ won the ‘Most Powerful Brand’ award.

Prasun Basu, Millward Brown’s Managing Director – South Asia, said, “The brand value findings give a clear validation to some of the great marketers in the system. It confirms the great work they are doing and gives them the confidence to continue their good work. Apart from helping the investors and financial analyst community, it also helps the marketers to tell their CFOs why a particular brand will bring more financial value to the organisation. Thus any global manufacturer that makes the effort to understand the diversity of the Indian consumer’s needs, tastes and aspirations, and which can build a proposition that is both meaningful and appropriately differentiated, will succeed in building a strong brand.”

CVL Srinivas CVL Srinivas

CVL Srinivas, CEO GroupM – South Asia, added, “We are already seeing the impact of the purchasing power of the internet and mobile users in India, with the exponential growth of e-commerce companies in the space of travel, e-tailing, ticketing and many main line brands increasing their brand building budgets to digital media in multiples.”

Sir-Martin-Sorrell-and-David-Roth-giving-away-the-winners-prize-to-HDFC-Bank Sir Martin Sorrell and David Roth giving away the winners prize to HDFC Bank
BrandZ-Top-50-new Click on image to enlarge.
The BrandZ™ Top 50 Most Valuable Indian Brands 2014

Rank 2014

Brand

Category

Brand Value 2014 (US$m)

1

HDFC Bank Banks 9,425

2

Airtel Telecoms 8,217

3

State Bank of India Banks 6,828

4

ICICI Bank Banks 3,536

5

Bajaj Auto Automobiles 3,034

6

Asian Paints Paints 2,812

7

Hero MotoCorp Automobiles 2,164

8

Idea Telecoms 1,882

9

Kotak Mahindra Bank Banks 1,721

10

Reliance Communications Telecoms 1,636

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