Tesla Leapfrogs the Competition in Interbrand’s 2021 Best Global Brands Report; Apple ranks #1
Interbrand has today announced the brands that have fared best in its 2021 Best Global Brands ranking.
Following its re-entry to the table last year, Tesla (#14) was the fastest growing brand of 2021, with an unprecedented 184% increase in brand value. Tesla also saw the largest rise in rankings, moving 26 places up the table, closely followed by Salesforce.com (moving up 20 places to #38) and PayPal (moving up 18 places to #42).
Sephora (#100) is the only new entrant to the rankings this year, but its addition makes LVMH Group the biggest group entity in the table. LVMH group is the first to have five brands in the Best Global Brands table – Sephora, Louis Vuitton (#13), Dior (#77), Tiffany & Co. (#92) and Hennessy (#95).
Top Ten
Despite its seismic growth, Tesla has yet to enter the top ten. Apple #1 (US$408,251m) once again takes the top spot in the table, followed by Amazon #2 (US$249,249m). Having overtaken Google in 2020, Microsoft #3 (US$210,191m) has preserved its place in the top three. The top three brands account for a third (33%) of the total table value this year.
The remainder of the Top 10 comprises: Google #4 (US$196,811m), Samsung #5 (US$74,635m), Coca-Cola #6 (US$57,488m), Toyota #7 (US$54,107m), Mercedes-Benz #8 (US$50,866m), McDonald’s #9 (US$45,865m) and Disney #10 (US$44,183m).
Table Value
The overall value of the table has increased to US$2,667,524m (up 15% from US$2,326,491m 2020), which is the biggest growth rate in the past 22 years of Interbrand’s Best Global Brands.
The average brand value increase in 2021 is 10%, significantly larger than the 1.3% in 2020, owed largely to the economic disruption caused by Covid-19. Technology is the fastest growing sector, with an average brand value change of 23% year-on-year. It is also the most valuable sector by average brand value, followed by beverages and sporting goods.
Key Learnings
During the analysis of BGB 2021, the fastest risers significantly outperformed other brands on three factors, revealing the fundamental priorities:
• Direction: These brands set a clear direction, ensuring that the entire organization knows where they are going, and are working towards the same ambition.
• Agility: These brands move fast, bringing new products and services to market and, where necessary, pivoting to address changing customer needs.
• Participation: These brands ultimately bring people on a journey with them and make them part of the movement to create an engaging brand world.
Says Nathan Birch, CEO, Interbrand Australia and New Zealand: “What we can observe is that the biggest brands are getting bigger. This is testament to a recurring theme, which is that a brand’s aim should be to be the biggest, or be different. A principle that many Australian brands could do well to heed.”
In August, Interbrand Australia and New Zealand launched its annual Breakthrough Brands report, which listed 10 brands with the potential to become global icons: Airtasker, Airwallex, Bluey, Go1, Go-To, Heaps Normal, Linktree, Lyre’s, Sharesies, and The Oodie.
Says Charles Trevail, global CEO, Interbrand: “Direction, Agility and Participation are three key themes we’ve seen driving brand growth over the past year. Perhaps unsurprisingly, given the constantly evolving business landscape, employee buy-in, adapting to change and a strong customer base have helped certain brands to thrive.
“It’s worth calling out Tesla’s growth over the past year – a three-figure increase in brand value is unprecedented in the past 22 years of Best Global Brands. Tesla is a brand that epitomises the importance of brand Direction, Agility and Participation, so I’m unsurprised Tesla made the biggest leap up the Best Global Brands ranking in 2021.”
For the complete Top 100 ranking and report with comprehensive analysis of growth, sector, and industry trends and the full methodology, visit www.bestglobalbrands.com.