Reliance Jio ranked 5th strongest brand in Brand Finance Global 500 list
29 Jan 2021
Telecom sector unicorn Reliance Jio Infocomm has emerged the fifth strongest brand globally as per the ‘Brand Finance Global 500 2021’ report after its meteoric growth as India’s strongest telecom firm in a span of less than five years since inception.
With the highest score in all metrics, including consideration conversion, reputation, recommendation, word of mouth, innovation, customer service and value for money, Jio pulled up a total score of 91.7 out of 100 in the brand strength index (BSI) with AAA-plus rating.
Reliance Jio, which started operations in the latter half of 2016, is now India’s largest mobile network operator and the third-largest mobile network operator in the world, with almost 400 million subscribers.
“Entering the ranking for the first time this year and claiming the title of the world’s 5th strongest brand, is Indian telecoms giant, Jio, with a BSI score of 91.7 out of 100 and the elite AAA+ brand strength rating,” Reliance JIO said in a statement.
Jio added that it has broken the mould and enjoys genuine affection from consumers.
Jio also has the credit of popularising internet by its free voice call offer bundled with data bringing 4G to millions of users.
Brand Finance Global 500 2021’ report also saw Apple returning to top spot five years after it last held the rank of the world’s most valuable brand, with a brand value $263.4 billion.
Amazon ($254 billion), Google ($191 billion), Microsoft ($140 billion), Samsung ($102 billion), Walmart ($93 billion), Facebook ($81 billion), ICBC ($72 billion), Verizon ($68 billion)and WeChat ($67 billion) are the remaining of the top 10 global brands in the Brand Finance survey.
Similarly, software providers such as Microsoft (up 20 per cent to $140.4 billion), SAP (up 9 per cent to $18.0 billion), Salesforce (up 29 per cent to $13.2 billion), Adobe (up 25 per cent to $11.7 billion), and a new entrant to the ranking, Servicenow (up 39 per cent to $4.3 billion), all enjoyed a boost in brand value as businesses raced to transition online and offices gave way to remote working for the greater part of last year.
Tesla pipped traditional auto majors behind with fastest brand value growth of 158 per cent, as new technologies drive brand value across industries
Traditional media brands continue to suffer as lockdowns boost popularity of streaming services – CBS is fasting-falling brand in ranking, down 49 per cent.
“With the onset of the pandemic, tech brands have experienced unprecedented demand for their products and services. At the same time, across sectors, brands which have pushed the boundaries of technological innovation have remained a cut above the rest, able to pivot their business to adapt to consumers’ changing needs. 2021 is the final call to get on board for all brands still stuck in the 20th century,” David Haigh, CEO of Brand Finance, commented.
Grounded by Covid-19 pandemic, airline and aerospace sectors account for 6 out of 10 fastest-falling brands in ranking.
Hospitality suffered from travel and dining restrictions, as Marriott and Airbnb checked out from ranking and Starbucks, McDonald’s, and KFC saw brand values drop
WeChat has overtaken Ferrari to become world’s strongest brand with top score of 95.4 out of 100 and AAA+ brand strength rating.
Mastercard’s Ajay Banga best among top 100 CEOs in Brand Finance Brand Guardianship Index 2021, as commitment to technological innovation paid off.