Four Chinese brands among world's most valuable
Four Chinese retailers were among the world's top 75 most valuable consumer brands, according to the latest BrandZ ranking by WPP and Kantar.
The valuation list measures consumer preferences along with retailers' stock price performance from 2019 to mid-April this year, to reflect the impact of the COVID-19 crisis.
The combined value of the world's top 75 retail brands added 12 percent from a year earlier to US$1.5 trillion.
Amazon grew 32 percent to US$415.9 billion to remain the world's most valuable brand, commanding 27 percent of the top 75's total brand value. In second place, Alibaba saw its brand value add 16 percent.
China's emerging e-commerce platform Pinduoduo is the highest new entry, in 26th position, with a brand value of US$9.4 billion following the success of its online group-buying model.
The top 10 brands in the ranking saw an average rise in brand value of 16.4 percent, outpacing the rest of the sector.
Athletic apparel company Lululemon grew brand value by 40 percent to US$9.7 billion to become the fastest riser.
McDonald's ranked in third position with US$129.3 billion, making it the most valuable fast food brand.
Digital-native brands were also good performers with JD and Alibaba gaining 24 percent and 16 percent respectively.
The coronavirus highlights the retail sector's pivotal role in the global economy as brands confront supply and demand challenges that require innovation and agile response, BrandZ report says.
"How retailers behave in terms of helping people through the crisis, as well as the way they treat their staff and whether they comply with government and health advice, will be important to their survival," commented Graham Staplehurst, global strategy director for BrandZ at Kantar.