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HDFC Bank emerges as most valuable Indian brand

As per the BrandZ Top 50 Most Valuable Indian Brands ranking announced by WPP and Millward Brown, India’s Top 50 brands are now worth $92.2 billion

BestMediaInfo Bureau | Mumbai | September 10, 2015

Unveiling of the BrandZ 2015 study by (L-R) Prasun-Basu, David-Roth, Doreen-Wang Unveiling of the BrandZ 2015 study by (L-R) Prasun-Basu, David-Roth, Doreen-Wang

The total value of India’s strongest brands has risen by a third (33 per cent) over last year, according to the second annual BrandZ Top 50 Most Valuable Indian Brands ranking announced by WPP and Millward Brown. This is the highest rate of growth achieved by any BrandZ ranking in the 10 years since valuations began, exceeding that of the Global Top 100 as well as the rankings for China, Latin America and Indonesia.

India’s Top 50 brands are now worth $92.2 billion (up from just under $70 billion in 2014). The value increase has been driven by brands’ successful response to the rising sense of empowerment among Indian consumers, and the Government’s efforts to create a more conducive business environment.

Brands in the financial sector (+49 per cent growth) made the largest contribution to the overall increase in value, but significant lifts were also seen across most other sectors, indicating the broad strength of India’s economy and Indian brands. Home and personal care brands achieved a combined increase of 32 per cent, followed by the auto aftermarket sector (28 per cent), automobile brands (27 per cent) and telecom providers (21 per cent).

Fifty-two per cent of the brands in the Top 50 are privately-owned, evidence of India’s entrepreneurial energy. Thirty per cent of the brands are owned by multinationals, which have successfully adapted to the needs of Indian consumers, becoming so embedded in their lives that they are perceived as ‘local’.

The BrandZ Top 50 Most Valuable Indian Brands 2015:

Rank 2015 Brand Category Brand value 2015 ($m) Brand value change Rank 2014
1 HDFC Bank Banks 12,577 33% 1
2 Airtel Telecoms 11,039 34% 2
3 State Bank of India Banks 9,374 37% 3
4 ICICI Bank Banks 5,122 45% 4
5 Asian Paints Paints 3,867 38% 6
6 Bajaj Auto Automobiles 3,345 10% 5
7 Hero Automobiles 2,907 34% 7
8 Axis Bank Banks 2,494 New New
9 Kotak Mahindra Bank Banks 2,394 39% 9
10 Maruti Suzuki Automobiles 2,318 54% 11
11 Idea Telecoms 1,981 5% 8
12 Castrol Lubricants 1,773 40% 15
13 IndusInd Bank Banks 1,542 46% 19
14 McDowell’s Alcohol 1,516 9% 13
15 Nestlé Food/dairy 1,498 22% 16

Key highlights of the 2015 BrandZ Top 50 Most Valuable Indian Brands study include:

Financial brands continue to dominate: With 13 brands in the Top 50, accounting for 41 per cent of its value ($38.1 billion), the financial sector has built brand strength by making a consistent effort to serve consumers better. Biggest risers: Union Bank of India (No.46, +72 per cent), Punjab National Bank (No. 22, +61 per cent) and IndusInd Bank (No.13, +46 per cent).

Home and personal care brands grew 32 per cent, driven by increased disposable income and spending on premium products, and investment by marketers across traditional and new media. These 12 brands hold 15 per cent ($13.4 billion) of the ranking’s total brand value. Fastest risers: Lakme (No. 44, +69 per cent), Lifebuoy (No. 31, +49 per cent) and Colgate (No. 26, +44 per cent).

Purpose is power: Indian consumers expect brands to actively participate in building a better society, and those that do have a higher brand value. Lifebuoy (No. 31) has a social mission to change consumers’ hygiene behaviour, while Asian Paints (No. 5) aspires to rejuvenate people’s living spaces and bring joy to their lives.

Indian consumers trust brands: In stark contrast with other markets, trust in brands is growing steadily. Consumers in India appreciate brands, and 33 per cent say they trust them. Among the most trusted are jewellery brand Tanishq (No. 21) and Colgate. All four new entrants are of Indian origin – Axis Bank, Canara Bank, MRF (tyres) and Royal Enfield. Three are privately owned, and one is an SOE.

Disruption is on the horizon – from e-commerce and mobile brands that are building scale and connecting with consumers at a frenetic pace. These are not yet eligible to be ranked in theTop 50 because they are not publicly traded.

David Roth, CEO of WPP’s The Store, commented, “The 2015 study shows that India is a market of great opportunities, where consumers are feeling empowered, and this is increasingly reflected in their brand choices. The Modi Government is committed to creating an environment in which brands can flourish. India is distinct in many ways from other fast-growing markets, however, so simply applying strategies that have proved successful elsewhere will not work in India. Any brand intending to compete in India must gain deep insights into its nuances – such as the need to modernise while respecting the past, and the desire to remain fundamentally Indian.”

Prasun Basu Prasun Basu

Prasun Basu, Millward Brown’s Managing Director, South Asia, said, “India’s top brands are strong, and getting stronger – but there is no room for complacence. The top four had to grow their value by 37 per cent on average to hold on to the same positions as last year, and close to 10 per cent of the brands that made the Top 50 in 2014 have dropped out. To benefit from the continuing rise in consumer confidence and optimism brands need to understand the changing consumer, respond with innovative products and breakthrough communication, and experiment and invest in new media that reflect the spirit of the country today.”

Ranjan-KapurRanjan Kapur, Country Manager, WPP India, added here, “Building a successful brand in India also means helping to build India itself. Consumers are trustful of brands, but trust can crumble overnight. Brands must work hard to sustain trust by connecting with the country’s communal sense of responsibility. Brands need to find ways to support the national agenda, and help to develop a more modern, prosperous and equitable society.”

The India Top 50 is part of the BrandZ family of brand valuations, which also includes the Global Top 100, Indonesia Top 50, Latin America Top 50, and China Top 100.

Info@BestMediaInfo.com

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