NEW YORK, Nov. 21, 2023 /PRNewswire/ — Interbrand has released its Best Global Brands 2023 ranking, which reveals that many of the world’s top 100 brands are in a period of stagnation. The sum total of the The value of the 100 brands present in this ranking reaches 3.3 billion dollars this year (3.1 billion dollars in 2022), which is only 5.7% more than the value recorded last year, when that growth percentage was 16%.
Interbrand points to a lack of growth mindset, weaker brand leadership and poor forecasts as causes of the slowdown. Added to this is a long-term trend in which brands that operate exclusively in one sector, taking a purely incremental approach, experience slower growth.
Gonzalo Brujó, global CEO of Interbrand, commented: “After a few years of strong increases, we have entered a period of stagnation, and this year’s ranking shows moderate growth.”
“Companies that have managed to increase the value of their brand, such as Airbnb (
“As we continue to navigate the economic and environmental headwinds, improved business cases and brand management are needed to drive future investment and sustain growth, both within traditional sectors and beyond. Those who can successfully leverage their brand into new consumer groups will reap strong growth.”
More than two decades of analysis show that companies that address a more diverse set of customer needs, often across multiple sectors, continue to dominate the top of the table, accounting for nearly 50% of total value. According to the data, these companies operating in several different sectors are more stable[1], achieve higher revenue growth[2], are more profitable[3] and benefit from greater growth in brand value[4]. For these companies, focusing on brand rather than product plays a larger role in driving choice (12% vs. average), meaning they can address more customer needs, within and across categories.
Manfredi Ricca, global strategy director at Interbrand, said: “A brand like Apple can no longer be attached to one sector. It competes in different areas, helping its customers to connect (the iPhone) but also to prosper (the latest watch from Apple was positioned as a health device), to finance itself (its new savings account attracted almost a billion dollars in deposits in the first four days) and much more. Apple’s track record in different arenas has allowed it to occupy the first place of the BGB for the eleventh year, having surpassed Coca Cola in 2013.”
[1] 81.5% Revenue CAGR vs. Average, 2018-2022
[2] 43.8% revenue growth estimates vs. average
[3] 33.7% EBIT growth estimates vs. average
[4] 4.8 pp growth in brand value compared to the average
Other key findings
Top Riser
Airbnb is the brand that is growing the most this year, with an increase in its value of 21.8%. It also jumped 8 places in the ranking (from 54th to 46th) despite having entered last year. The significant increase in value is due, in part, to its strong brand investment and strong financial outlook: revenue increased 40% in 2022 versus 2021, and is expected to increase a further 13% in 2023 versus 2022 .
Automotive and luxury experience the greatest growth
The value of automotive brands increased by 9% in 2023. BMW ((
Tesla maintained its position this year (
“These brands have increased their affinity, trust, presence and engagement scores (key drivers of value), ultimately increasing their connection with their customers,” Ricca said.
Luxury is once again a high-performing sector, up 6.5% this year. This is due to the resilience of the industry’s brands and their ability to transcend categories to create luxury experiences such as restaurants, hotels and pop-up stores.
Hermes (
For the full ranking, industry trend report and full methodology, visit www.bestglobalbrands.com.
For more information, contact:Jess Alexander 44 7795 533229interbrand@pumpkin.uk.com
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