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1   BrandZ Top 100 Most Valuable Global Brands 2009   2
Welcome to the fourth annual
                                Let me begin with a brief explanation of what     Quantifying a brand’s value is just the first
                                the ranking is about, why it’s important, and     step. The real objective is to understand the
                                how it can help you and your business.            levers through which brand value is created,


 BrandZ Top 100 Most Valuable
                                                                                  in order to identify opportunities to grow the
                                The BrandZ Top 100 is the most                    value of the brand and business.
                                comprehensive and robust brand ranking
                                available. The valuations are based not only on   Millward Brown Optimor is a global brand

 Global Brands ranking          financial and market data but also on BrandZ
                                – the world’s largest brand equity database.
                                                                                  strategy and financial consultancy. Our goal
                                                                                  is to help companies maximize the ROI
                                                                                  from their brand strategy and marketing
                                We believe that there are some important          investments. We provide actionable
                                takeaways from the study.                         recommendations with demonstrated
                                                                                  financial results on key issues facing
                                First of all, brands matter—they are valuable     marketing leaders.
                                assets which on average account for
                                approximately one third of corporate value.       Please accept this report with our
                                Brands should therefore be taken seriously        complements and with confidence that the
                                by CEOs. Expenditure on brand and                 information it contains will broaden your
                                marketing should be treated not as a              understanding of leading brands and suggest
                                cost but as an investment.                        possibilities that can benefit your own brands.

                                The study shows that the importance of            Feel free to contact me with any questions,
                                branding stretches far beyond consumer            or simply to have a conversation about
                                packaged goods. The Top 100 includes              how we can work together to achieve
                                brands from almost every industry category.       your brand objectives.
                                Any business can create competitive
                                advantage through brand building                  Sincerely,

                                Brands are especially important during a
                                recession. While stock markets have been
                                crashing all around, the Top 100 brands have
                                maintained their value. Strong brands are
                                helping to protect their businesses from risk,
                                                                                  Joanna Seddon
                                and position them for future growth – the
                                                                                  CEO Millward Brown Optimor
                                ultimate return on investment.




  Designed by Lambie-Nairn
3 www.lambie-nairn.com                                                                           BrandZ Top 100 Most Valuable Global Brands 2009   4
CONTENTS

               [WORK IN PROGRESS]



                                    CONTENTS
                                    Introduction                                  7
                                    Methodology                                 11
                                    Commentary                                  13
                                    The Top 100                                 15
                                    Brand Contribution                          23
                                    Brand Momentum                              25
                                    Top 20 Risers                               27
                                    Newcomers                                   29
                                    Regions                                     31
                                    Sectors                                     33
                                    Apparel                                     33
                                    Beer                                        35
                                    Bottled Water                               37
                                    Cars                                        39
                                    Coffee                                      41
                                    Fast Food                                   43
                                    Financial Institutions                      45
                                    Gaming Consoles                             47
                                    Insurance                                   49
                                    Luxury                                      51
                                    Mobile Operators                            53
                                    Motor Fuel                                  55
                                    Personal Care                               57
                                    Retail                                      59
                                    Soft Drinks                                 61
                                    Spirits                                     63
                                    Technology                                  65
                                    Key Take Outs                               67
                                    Data Sources                                69
                                    Directory                                   71




5                                             BrandZ Top 100 Most Valuable Global Brands 2009
INTROduCTION                                                                The Resilience of Brand Value

                                                                                This fourth annual BrandZ ranking contains
                                                                                many new features and findings, but none
                                                                                as revealing as this one: In a year of global
                                                                                economic turmoil, when every key financial
                                                                                indicator plummeted, the value of the top 100
                                                                                brands increased by 2 percent to $2 trillion.

                                                                                This result affirms the resiliency of brands
                                                                                and the importance of quantifying the
                                                                                contribution of brand equity to a company’s
                                                                                market value.
                                  Google
                                 Microsoft                                      Brands are among a company’s most valuable
                                 Coca-Cola IBM                                  assets. Strong brands have the power
                                 McDonald's Apple                               to create real and sustainable competitive
                                China Mobile GE
                                Vodafone Marlboro                               advantage. They can:
                               Wal-Mart ICBC
                               BlackBerry Nokia                                 • Drive revenue growth by ensuring higher
                              Toyota UPS HP
                              BMW SAP Disney
                                                                                  demand and market share
                             Tesco Gillette Intel
                             China Construction Bank
                                                                                • Help improve margins by commanding
                             Oracle Amazon                                        premium prices and better supplier terms
                            Bank of China AT&T
                            Louis Vuitton HSBC                                  • Reduce capital requirements by minimizing
                           Pampers Nintendo Cisco                                 the costs of entry into new categories
                           Verizon Wireless Porsche
                          American Express Visa
                          Wells Fargo Santander                                 Strong brands can also create differentiation that
                          NTT DoCoMo Mercedes                                   allows companies to overcome commoditization
                         Bank of America Dell                                   and reduce overall business risk.
                         Accenture Pepsi L'Oréal
                         Carrefour RBC Citi Honda
                        Siemens Budweiser Orange
                        eBay Bradesco BBVA Colgate
                       Target H&M Nike SUBWAY
                       TD Movistar T-Mobile Wrigley's
                      Auchan Chase Nissan DHL
                      FedEx Home Depot MTS
                     Beeline Canon ALDI Avon Zara
                     O2 Standard Chartered Red Bull
                     China Merchants Bank Yahoo!
                    Hermès JP Morgan Ariel Tide Gucci
                    MasterCard Goldman Sachs Starbucks
                    Barclays State Farm Morgan Stanley
                   ING KFC IKEA Nivea Esprit




                                                         In a year of global financial turmoil,
                                                         when every key financial indicator plummeted,
                                                         the value of the top 100 brands increased
                                                         by 2 percent to $2 trillion
7                                                                                              BrandZ Top 100 Most Valuable Global Brands 2009   8
INTROduCTION




                                                                                                 The ultimate brand evaluation tool                  In addition, a new category has been added
                                                                                                                                                     – gaming – bringing the total number of
                                                                                                 Knowing a brand’s value enables the                 categories we publish to 17. The categories
                                                                                                 CEO, investors, and other stakeholders              include: apparel, beer, bottled water, cars,
                                                                                                 to make better, more informed decisions.            coffee, fast food, financial institutions, gaming,
                                                                                                 The return on investment in marketing

                                The BrandZ
                                                                                                                                                     insurance, luxury goods, mobile operators,
                                                                                                 initiatives, for example, can be more               motor fuel, personal care, retail, soft drinks,
                                                                                                 accurately understood when an intangible            spirits, and technology.
                                                                                                 asset like brand has a monetary value

                                database provides                                                that can be tracked.

                                                                                                 The central role of brand value in business
                                                                                                                                                     Key advantages
                                                                                                                                                     The key advantages of the BrandZ Top 100

                                a detailed, quantified                                           decision-making indicates the importance            Most Valuable Global Brands are that it is:
                                                                                                 of using the most sensitive and sophisticated
                                                                                                 brand-evaluation tools. This is the only ranking   • Drawn from the world’s largest brand

                                understanding                                                    based on a brand valuation methodology that          equity database
                                                                                                 is grounded in both customized consumer            • Customer focused, measuring the strength
                                                                                                 research and in-depth financial analysis.            of brands, not corporations

                                of consumer                                                      Insights into consumer behavior and brand
                                                                                                 perceptions come from the proprietary
                                                                                                                                                    • Comprehensive, with more countries,
                                                                                                                                                      categories, and brands researched than


                                decision-making
                                                                                                 BrandZ database – the largest repository             other rankings
                                                                                                 of brand equity data in the world.                 • Predictive, calculating prospects for
                                                                                                                                                      near-term growth.

                                worldwide
                                                                                                 Covering thousands of brands in more
                                                                                                 than 30 countries, and based on more                The BrandZ ranking combines the knowledge
                                                                                                 than a million in-depth consumer interviews,        and expertise of Millward Brown Optimor
                                                                                                 the BrandZ database provides a detailed,            and the unparalleled global economic and
                                                                                                 quantified understanding of consumer                communication resources of WPP. In short,
                                                                                                 decision-making worldwide. The financial            the BrandZ Top 100 Most Valuable Global
                                                                                                 analysis is based on information provided           Brands is the most reliable, comprehensive,
 le are still willing                                                                            by Bloomberg, Datamonitor and other

                                                          1
  ve to be of                                                  Brands Still Matter                                                                   and useful brand valuation ranking available.
                                           KEy TaKE OuT




 llward Brown                                                  Even when money is tight,
                                                                                                 leading sources. International Monetary
 viduals would                                                 people are still willing to pay   Fund projections were used this year to
ategories such                                            for things that they perceive to be    further validate financial forecasts (For a
an downgrade to                                           of value. For example, a recent        full explanation of methodology, please
 China, the brand                                         Millward Brown study in China          see page 11).
  also a certain                                          revealed that individuals would
   than ever.                                             rather buy less of a product in
                                                          categories such as alcohol and
                                                          snacks rather than downgrade to
                                                          cheaper brands. In markets like
                                                          China, the brand does not only
                                                          signify quality but also a certain
                                                          status. Brands matter now more
                                                          than ever.




             9                                                                                                                                                      BrandZ Top 100 Most Valuable Global Brands 2009   10
METHOdOLOGy




 How Brand Value is Calculated                               The data Sources                                The Valuation Process                                     This guarantees that the Brand Contribution
                                                                                                                                                                       is rooted in real-life customer perceptions
 Millward Brown Optimor applies an                           Customer Opinion                                1. Branded Earnings                                       and behavior, not spurious ‘expert opinion’:
 economic approach to brand valuation, and                   The secret ingredient is WPP’s BrandZ           What proportion of a company’s earnings is                in some categories, brand is important —
 uses a methodology similar to that employed                 database, based on an annual quantitative       generated “under the banner of the brand”?                luxury, cars, or beer, for instance. In categories
 by analysts and accountants.                                brand equity study in which consumers and                                                                 like motor fuel, on the other hand, price and
                                                             business customers familiar with a category     First, the branded earnings are identified.               location play a very strong role. Furthermore,
 The brand value published is based on the                   evaluate brands.                                For example, in the case of Coca-Cola                     as markets develop, consumer priorities and
 intrinsic value of the brand — derived from                                                                 some earnings are not branded Coca-Cola,                  the role of brand may change. And even in
 its ability to generate demand. The dollar                  Since BrandZ’s inception over 10 years          but come from Fanta, Sprite or Minute                     strongly branded categories, some successful
 value of each brand in the ranking is the sum               ago, more than one million consumers and        Maid. Once identified capital charges are                 brands that compete heavily on price.
 of all future earnings that brand is forecast to            business-to-business customers across           subtracted. This ensures only value above
 generate, discounted to a present day value.                31 countries have shared their opinions         and beyond what investors would require                   3. Brand Multiple
 Given the high volatility of financial markets              about thousands of brands. It is the most       any investment in the brand to earn is                    What is the growth potential of the brand-
 over the past 12 months, the brand value is                 comprehensive, global, and consistent study     captured: The value the brand adds to the                 driven earnings?
 in some cases high relative to current market               of brand equity.                                business. This provides a bottom-up view
 capitalization, reflecting true value rather than                                                           of the earnings of the branded business.                  In the final step, the growth potential of these
 current market swings.                                      Financial Performance                                                                                     branded earnings is taken into account. Both
                                                             Financial data is sourced from Bloomberg,       2. Brand Contribution                                     financial projections and consumer data is
                                                             analyst reports, Datamonitor™ industry          How much of these branded earnings are                    analyzed. This provides an earnings multiple
                                                             reports, and company filings with regulatory    generated due to the brand’s close bond                   aligned with the methods used by the analyst
                                                             bodies. Financial models are then prepared      with its customers?                                       community. It also takes into account brand-
                                                             for each brand that link brand perceptions to                                                             specific growth opportunities and barriers.
                                                             company revenues, earnings, and ultimately      The portion of these earnings driven by                   To capture the weaker economic outlook,
                                                             shareholder and brand value.                    brand equity is called “Brand Contribution”:              all projections have been validated using
                                                                                                             The degree to which brand plays a role in                 IMF economic growth forecasts.
                                                             The BrandZ Top 100 values market-facing         generating earnings. This is established
                                                             brands, i.e. brands which directly generate     through analysis of country-, market-, and                The Brand Momentum™ indicator that
                                                             revenues and profits through the sale of        brand-specific consumer research from                     indicates each brand’s growth is based on this
                                                             goods and services to customers. Corporate      the BrandZ database.                                      evaluation. It is presented as an indexed figure
                                                             brands such as Procter & Gamble, Unilever                                                                 that ranges from 1 to 10 (10 being high).
                                                             and Nestle which have significant value                              Corporate
                                                             especially with the investment community,                            Earnings
                                                                                                                                           ‘Branded’
                                                             are not included in the ranking.
                                                                                                             Brand
                     2
                                                                                                                                            Earnings ‘Branded’
                                                                                                                                    $
                                                                                                                                                                   x        %                    x                 M
                           Go Global – Effectively
      KEy TaKE OuT




                                                                                                                                                      Intangible


                                                                                                             Value =
                                                                                                                                                      Earnings
                           Being recognizable in many                                                                                       $
                           markets is not by itself a                                                                                               $
                     passport to success. That requires
                     adapting your brand and offer to be
                     relevant in each particular market.                                                                          Step 1.                                Step 2.                              Step 3.
                     As Millward Brown’s Chief Global                                                                             Intangible Earnings                    Brand Contribution                   Brand Multiple
                     Analyst Nigel Hollis writes: “The                                                                            Intangible corporate earnings          Portion of intangible                Brand earnings multiple.
                     ones that transcend their origins and                                                                        allocated to each brand                earnings attributable                Calculated based on
                     create strong, enduring relationships                                                                        by country, based on                   to brand.                            market valuations, brand
                     with consumers across countries                                                                              company and analyst reports,           Directly driven by                   growth potential and
                     and cultures.”                                                                                               industry studies, revenue              BrandDynamics™ Loyalty               Voltage™ as measured
                                                                                                                                  estimates, etc                         Pyramid and Category                 by BrandDynamics™
                                                                                                                                                                         Segmentation collected
                                                                                                                                                                         within the BrandZ study
                                                                                                                                  Data Sources                           Data Sources                         Data Sources



11                                                                                                                                                                                      BrandZ Top 100 Most Valuable Global Brands 2009   12
COMMENTaRy                                        To talk of brands having been invented is           Gardner and Levy drew our attention to
                                                   the equivalent of saying that Christopher           the fact that the personality of a product,
                                                   Columbus invented America. America had              as created in the head of each observer,
                                                   been around for a very long time before             could be as important to its users as its
 To talk of brands having been                     he bumped into it – just as brands had
                                                   been around for a very long time before
                                                                                                       function. And they suggested a relatively
                                                                                                       new role for advertising.
 invented is the equivalent                        the Harvard Business Review brought them
                                                   to our attention.                                   People build brands in their heads as a
 of saying that Christopher                                                                            result of an almost infinite number of clues,
 Columbus invented america.                        It’s certainly true that companies invent
                                                   products. But the only people who invent
                                                                                                       cues, facts, myths and brand encounters.
                                                                                                       Some, like product performance and
                                                   brands are people.                                  all paid-for publicity including packaging
                                                                                                       and promotions, are within the control
                                                   When you first started thinking of that school      of the product’s owner. Many others, like
                                                   down the road from your own – the one that          the behavior of competitors, news items,
                                                   always beat you at games – you invented             and the likeability or otherwise of other
                                                   your first brand. It had a name – and it            users, are not. Service brands, for obvious
                                                   had a very clear personality. You couldn’t          reasons, are notoriously difficult to keep in line.
                                                   say exactly why you hated it – but you did.
                                                   And what’s more, so did your friends.               So the real role for all these experts who
 COMMENTaRy                                                                                            claim to build brands (but don’t) is to help
                                                   But if you’d asked the boys and girls from          the people who do build brands – real people
 by Jeremy Bullmore                                the school down the road what they thought          – build them as attractively as possible.
                                                   of their school, you’d have got a very different    Their job is first to create and then supply


 O
         ne of the more hilarious beliefs          answer. How puzzling. Exactly the same              the raw material from which real people,
         about brands is that brands were          school, yet two totally different reputations.      individual by individual, compose in their
         invented by manipulative marketeers       How come? Because brand reputations exist           heads that complex and subjective construct
 in order to persuade the guileless consumer       only in the minds of their observers – and all      we call a brand image.
 to pay over-the-odds for some otherwise           observers are different.
 unremarkable commodity. Naomi Klein                                                                   In theory, therefore, (and probably in practice)
 and her followers feel strongly on the subject    Long before 1955, women in primitive villages       the reputation of a brand within a million
 and use the word manipulate a lot.                would buy their cooking oil from unmarked           people’s heads will have a million slightly
                                                   steel barrels. Sometimes the oil was good           different versions. But as the research behind
 More surprisingly, even some brand consultants,   and sometimes not so good. So the women             BrandZ clearly illustrates, the strongest
 with a touching mixture of braggadocio and        made a note of those whose oil was good             brands are those that enjoy what’s been
 shifty shame, half agree. They take sole credit   and determined to buy only from them.               called a (favorable) consensus of subjectivity.
 for having developed a practice that, even if     They’d invented a brand. And the sellers of         And that’s when their brand managers,
 morally questionable, has undoubtedly made        the good oil quickly cottoned on and gave           in the widest sense of that phrase, should
 their clients and themselves a lot of money.      their oil a distinctive name so that the women      be most warmly congratulated. They didn’t
 They build brands.                                would more easily know which oil to trust           build those brands themselves; but they
                                                   and which to avoid. Trust and familiarity go        fed such enticing titbits to their audience
 And so, they all claim, does every design         hand in hand. The women who were now                that their audience gratefully did the rest.
 company and advertising agency and                committed to the better oil (loyal consumers)
 marketing company and management                  not only respected it but began to be fond of
 consultant. And they’ve all been building         it, as people do of familiar things.
 brands since 1955 which was when brands
 were invented – because that was the year         And all this, of course, spurred the sellers
 that the Harvard Business Review published        of the inferior oil into making it better because
 The Product and the Brand by Sidney Levy          otherwise they’d have gone out of business.
 and Burleigh Gardner. The trouble, of course,     Consumer protection began not with
 is that Gardner and Levy never pretended          legislation but with brands.
 to have invented brands.

13                                                                                                                     BrandZ Top 100 Most Valuable Global Brands 2009   14
THE TOP 100




               Why We Can Believe in the Power
               of Brands
               Life changed.

               The stock market plummeted. Home prices
               plunged. Retirement savings disappeared.
               Many of the reliable touchstones that gave
               people’s lives stability, coherence, and security
               collapsed last year. But not all of them.




TOP
               The value of brands remains strong.

               The total value of the BrandZ Top 100 Most
               Valuable Global Brands has increased by 2
               percent to just under $2 trillion dollars ($1.95
               trillion to be precise).

               Nine of the top 10 brands from last year
               remain in the top 10.




ONE
               Among the top 100 brands, 85 remain from
               last year’s listing. Of those that have dropped
               out of the ranking, nine were from categories
               particularly hard-hit by the economic storm:
               cars, financial institutions, and insurance.

               Of the 17 categories covered this year, 11
               have increased in overall brand value. Most
               others have experienced only a moderate




HuNd
               erosion in value.

               Even the luxury category has gained in brand
               value by 10 percent, affirming the deep
               and enduring claim that well-crafted items
               and brand heritage have on our imaginations
               and wallets.




REd
               Customers are not holding their breath during
               this economic volatility. They are adjusting
               their coping strategies, while remaining
               determined to purchase brands that
               contribute to the pleasure, quality, purpose,
               and security of their lives.




15                             BrandZ Top 100 Most Valuable Global Brands 2009   16
* The brand value of Coca-Cola includes Diet Coke, Coke Light and Coke Zero
 THE TOP 100                                                                                                          ** The brand value of Pepsi includes Diet Pepsi and Pepsi
                                                                                                                     *** Budweiser’s value includes both Bud Light and Bud
                                                                                                                     **** ING value includes ING Bank and ING Insurance
                                                                                                                          Source: Millward Brown Optimor (including data from BrandZ, Datamonitor, and Bloomberg)



      TOP 100 Most Valuable Global Brands 2009                       TOP 100                                                   TOP 100                                                                              TOP 100
 #    Brand                  Brand Value     % Brand Value      #    Brand          Brand Value   % Brand Value         #      Brand                         Brand Value          % Brand Value             #       Brand                 Brand Value          % Brand Value
                             09 ($M)         Change 09 vs. 08                        09 ($M)      Change 09 vs. 08                                            09 ($M)             Change 09 vs. 08                                         09 ($M)             Change 09 vs. 08

 1                           100,039             16%            26                   21,294           85%               51                                     13,562                   -8%                 76                                8,609                   -1%

 2                             76,249              8%                                                                                         ***
                                                                27                    21,192            9%              52                                     13,292                   23%                 77                                8,601                  36%

 3                 *           67,625            16%            28                   20,059           67%               53                                      13,242                  -6%                 78                                 8,219                 20%

 4                             66,622            20%            29                   19,395             5%              54                                      12,970                  16%                 79                                 8,154                  N/A

 5                             66,575            34%            30                    19,079            3%              55                                     12,549                   33%                 80                                8,052                168%

 6                             63,113             14%           31                   18,945            N/A              56                                     12,396                   17%                 81                                 7,927                -31%

 7                             61,283              7%           32                   18,233            N/A              57                                      12,254                 -17%                 82                                 7,862                 13%

 8                             59,793            -16%           33                    17,965          -25%              58                                      12,061                    8%                83                                 7,852                -20%

 9                             53,727            45%            34                    17,713           -8%              59                                      11,999                  -4%                 84                                 7,777                 -8%

 10                            49,460            33%            35                    17,467         -20%               60                                     10,997                     6%                85                                 7,512                -18%

 11                            41,083            19%            36                   16,353            N/A              61                                      10,991                   N/A                86                                 7,468                 15%

 12                            38,056            36%            37                   16,228          -34%               62                                      10,911                  34%                 87                                 7,427                   7%

 13                            35,163            -20%           38                   16,035           10%               63                                     10,864                   22%                 88                                 7,415                -38%

 14                            29,907            -15%           39                    15,776            5%              64                                      10,841                   N/A                89                                 7,260                -40%

 15                            27,842             -9%           40                   15,499           -14%              65                                     10,586                   48%                 90                                6,992                  -5%

 16                            27,478            100%           41                   15,480          -53%               66                                     10,582                  -17%                 91                                6,922                 -27%

 17                            26,745             -9%           42                   15,422             1%              67                                     10,206                  -13%                 92                                 6,765                -40%

 18                            23,948            -15%           43                    15,076            7%              68                                        9,719                 19%                 93                ****             6,743                -55%

 19                            23,615              9%           44             **    14,996            -3%              69                                       9,491                 -17%                 94                                 6,721                 10%

 20                            23,110             -3%           45                   14,991            -9%              70                                       9,280                -40%                  95                                 6,713                -21%

 21                            22,938             -1%           46                   14,963          -40%               71                                        9,189                 14%                 96                                6,572                  24%

 22                            22,919              6%           47                   14,961            -1%              72                                       8,884                   N/A                97                                 6,571                -17%

 23                            22,851              4%           48                   14,894          -22%               73                                       8,779                 -29%                 98                                6,565                   N/A
              ®




 24                            22,811            16%            49                   14,608          -52%               74                                       8,638                  49%                 99                                6,409                 -19%

 25                            21,438             -6%           50                    14,571          -12%              75                                       8,631                  20%                 100                               6,394                   N/A


17                                                                                                                                                                                                                            BrandZ Top 100 Most Valuable Global Brands 2009     18
THE TOP 100




                                                                                                                            3
                                                                                                                                    Don’t Be Greedy




                                                                                                             KEy TaKE OuT
 Trends                                                                                                                             Consumers are not
                                                                                                                                    in the mood for greed.
 Value                                                                                                                      And greed is not required for
 Consumers have not given up on quality.                                                                                    success. Once we are on the
 They are simply becoming more astute about                                                                                 other side of this economic
                                                                                                                            slowdown, consumer spending
 the price they are prepared to pay for quality.                                                                            will pick up. But perhaps slowly,
 ALDI has one of the biggest increases in                                                                                   as people internalize the lessons
 brand value, 49 percent. Wal-Mart moves                                                                                    of our recent boom and bust
 up two places and is now number 11.                                                                                        history. They will want quality,
                                                                                                                            intelligently-created, well-
                                                                                                                            designed products. But they
 At Home                                                                                                                    may not want one in every color.
 People are retreating to home to enjoy small      Small Vices
 pleasures, often with family and friends.         Value increases for the beer, cigarette, fast
 The trend contributes to the popularity           food, and coffee categories suggest that
 of gaming. Nintendo made it into the Top          people are allocating some disposable
 100 for the first time this year, at number 32.   income for their habitual vices.
 The coffee category grew by 18 percent
 year-on-year as consumers cut down on visits      Control
 to coffee houses and instead buy premium          Since so much seems out of control,
 coffee for brewing at home. Increased at-home     people are trying to control what they can –
 consumption is also driving brand value           spending. They use debit cards in an attempt
 increases in the beer and spirits categories.     to reduce credit card debt, and are much
                                                   more careful about when and where they
 Affordable Indulgence                             shop. Focused shopping replaces trips to
 Outside the home, consumers are seeking           malls and destination stores. Online shopping




                                                                                                                                                                                    TRENdS
 out purchases that deliver simple enjoyment at    benefits, driving the Amazon brand up 35
 a modest price. Small luxury items such as        places in the BrandZ ranking to number 26,
 sunglasses and lipsticks continue to sell well.   an 85 percent rise in value.
 Johnnie Walker’s 42 percent growth in brand
 value makes it the biggest growing spirits        Health
 brand and one of the top 10 risers.               The concern with personal health is not
                                                   a new trend. But, significantly, it has continued
                                                   even in the harsh economy. The personal
                                                   care category has benefited as people spend
                                                   on oral care rather than risk extensive dental
                                                   expenses. Healthier menus, along with
                                                   affordability, are drawing more customers to
                                                   fast food restaurants. The rise of Bud Light
                                                   to first place in the beer category is another
                                                   indication of this ongoing trend.




                                                                                                       Small luxuries such as
                                                                                                       sunglasses and lipsticks
                                                                                                       continue to sell well
19                                                                                                                                                              BrandZ Top 100 Most Valuable Global Brands 2009   20
THE TOP 100




 Seriousness                                                      Opportunities and Challenges                            Year-on-Year Growth in Total Category Value
 Frugality is replacing conspicuous consumption                                                                    30
 across most categories. In personal care,                        All of these trends and developments
 for example, consumers are trading down                          present opportunities and challenges for
 to mid-level brands. Similarly, in spirits the                   brand marketers.




                                                                                                                                                                                                                                                                                                                      -11% Financial Institutions
 premium brands benefit as consumers trade                                                                         20
 down from ultra premium. People are drinking                     Global reach adds growth, knowledge, and
 more tap and less bottled water. And those                       a hedge against the fluctuations of regional




                                                                                                                                                                                                                                                                                       -5% Motor Fuel




                                                                                                                                                                                                                                                                                                                                                                -48% Insurance
 who can afford to buy products at the top end                    economies, but it does not by itself guarantee




                                                                                                                                                                                                                                                                                                        -9% Apparel
 are less likely to flaunt them.                                  brand success. That requires effectively         10




                                                                                                                                                                                                                                                                                                                                                    -22% Cars
                                                                  balancing brand heritage with the particular
 Technology                                                       cultural expectations of each market.
 People are continuing to rely on technology
 to help organize, simplify, and add new                          As personal, corporate, and category              0
 capabilities to their lives. The mobile operator                 reputations suffered, brand strength endured,




                                                                                                                                                                                               Beer 15%

                                                                                                                                                                                                          Luxury 10%

                                                                                                                                                                                                                       7%

                                                                                                                                                                                                                                5%

                                                                                                                                                                                                                                          2%

                                                                                                                                                                                                                                                       2%

                                                                                                                                                                                                                                                                       2%
                                                                                                                                                Soft Drinks 24%

                                                                                                                                                                  Coffee 18%

                                                                                                                                                                               Fast Food 16%
                                                                                                                         Mobile Operators 28%
 category is the biggest-growing in the ranking.                  suggesting that the reservoir of brand trust
 And seven of the top 10 brands in the BrandZ                     runs deep. In this environment, brands have




                                                                                                                                                                                                                       Retail

                                                                                                                                                                                                                                Spirits

                                                                                                                                                                                                                                          Technology

                                                                                                                                                                                                                                                       Personal Care

                                                                                                                                                                                                                                                                       Bottled Water
 Top 100 come from the technology or mobile                       become more important and earning and            -10
 operator categories.                                             sustaining customer trust remains the greatest
                                                                  guarantor of long-term brand success.
                                                                                                                   -20




                                                                                                                   -30


                     4
                             Stay Positive
      KEy TaKE OuT




                             Consumers are angry – at
                             government, at large institutions,
                     at entire sectors. But they are not                                                           -40   Change in Category Value
                     angry at your brand. Brand strength                                                                 Innovations in handsets and activity in the BRIC
                     is stable over time. It is disrupted                                                                markets drove growth in the mobile operator
                     only when something new enters the                                                                  category. Generally, the rates of growth or decline
                     market or when the brand upsets the                                                                 in the other categories depended on whether they
                     relationship with consumers. It takes                                                         -50   were well positioned during the global economic
                     a lot to make that happen. A recent                                                                 crisis (fast food) or not (financial institutions
                     Millward Brown study of the financial                                                               and insurance).
                     sector revealed that consumers are
                     likely to aim their current displeasure                                                              Source: Millward Brown Optimor (including data
                                                                                                                          from BrandZ, Datamonitor, and Bloomberg)
                     at the sector or at certain high-profile
                     individuals. The displeasure consumers
                     feel, however, does not seem to
                     dramatically alter their experience
                     with individual brands.




21                                                                                                                                                                                                                                                                                               BrandZ Top 100 Most Valuable Global Brands 2009                                 22
BRaNd CONTRIBuTION                                                                                                  Top 15 by Brand Contribution
                                                                                                              #      Brand                               Brand Value       Brand
                                                                                                                                                         $M                Contribution*

                                                                                                              1      Moët & Chandon                       4,847                  5

                                                                                                              2      Porsche                             17,467                  5

                                                                                                              3      Hennessy                             5,403                  5

                                                                                                              4      Douwe Egberts                           732                 5




                                                                                                                                                                                           CONTRIBuTION
                                                                                                              5      Tide                                  7,512                 5

                                                                                                              6      Wrigley's                           10,841                  5

                                                                                                              7      Gillette                           22,919                   5

                                                                                                              8      Pampers                            18,945                   5

                                                                                                              9      Skol                                 2,223                  4

                                                                                                              10     Chanel                               6,219                  4

                                                                                                              11     Louis Vuitton                      19,395                   4

                                                                                                              12     Armani                               2,345                  4

                                                                                                              13     Mercedes                           15,499                   4
 Emotional Bonds add Brand Value                                                                              14     Hermès                               7,862                  4
 Brand contribution is the proportion of                                                                      15     Fendi                                3,469                  4
 financial value driven purely by brand equity.
                                                                                                              Source: Millward Brown Optimor (including data
                                                      Gum Provides Bite-Size Luxury                           from BrandZ, Datamonitor, and Bloomberg)
 It is a good measure of a brand’s emotional




                                                                                                                                                                                           BRaNd
                                                      It is often the little things that make a difference.   * The Brand Contribution Index runs from 1 (low) up to 5 (high).
 bond with its customers. The high scores
 of the brands in this table indicate deep            A pack of gum – a bit of cheer – is still
 and enduring attachments.                            affordable to most people, even in these times.
                                                      That explains why people buy gum; it does
                                                      not explain why they choose Wrigley’s.
 It is not surprising that this list contains some
 of the world’s most exalted luxury brands.           The answer to that question reveals why
                                                      Wrigley’s, often an incidental add-on
 Luxury brands, almost by definition, have            purchase with a newspaper, appears in a
 a very highly bonded group of customers              brand contribution list that includes some
 who are prepared to pay a premium.                   of the world’s most revered luxury brands.
                                                      With its extensive distribution network,
 What is more interesting is that the list contains   Wrigley’s is normally front-of-shelf, which
 several brands for everyday products, which          makes it front-of-mind, the only place to be
 you might not expect consumers to build              when the shopper is making a spontaneous
                                                      decision about whether and what to purchase.
 such strong bonds with. The presence
 on this list of Wrigley’s, Gillette, Pampers         Wrigley’s is, in a sense, a luxury brand. It
                                                      provides a little daily luxury at an affordable
 and Tide suggests that it is possible to build
                                                      price that discourages trading down because
 strong bonds with everyday products.                 the savings would be insignificant.




23                                                                                                                                                                                          BrandZ Top 100 Most Valuable Global Brands 2009   24
BRaNd MOMENTuM                                                  Top 10 by Brand Momentum                               Top 10 With Highest Brand Momentum
                                                                                                                  #     Brand                              Brand Value        Brand
                                                                 Brand momentum is a measurement                                                           $M                 Momentum*
                                                                 predicting short-term growth prospects.          1     Amazon                                  21,294           10

                                                                 The brands listed in this chart are expected     2     SUBWAY                                  10,997           10
                                                                 to do well in the next year: Some because
                                                                 of the economic downturn, others despite it.     3     Baidu                                    5,768           10

                                                                 Amazon has benefited from a shift to online      4     Apple                                   63,113            9
                                                                 purchasing as consumers, attempting
                                                                                                                  5     Marlboro                               49,460             9
                                                                 to economize, try to control their shopping
                                                                 experience and find the lowest prices.           6     Wal-Mart                                41,083            9

                                                                 Increased price concern has also helped          7     BMW                                    23,948             9
                                                                 discounters like Wal-Mart and ASDA.
                                                                                                                  8     Tesco                                  22,938             9
MOMENTuM
                                                                 The success of SUBWAY reflects both
                                                                 increased traffic at fast food restaurants and   9     ASDA                                       5,413          9
                                                                 consumer preference for healthier menus.
                                                                                                                  10    Tim Horton's                             3,843            9

                                                                 BMW’s high brand momentum indicates              Source: Millward Brown Optimor (including data
                                                                 pent up demand during the recession,             from BrandZ, Datamonitor, and Bloomberg)

                                                                 as customers may defer purchases but             * The Brand Momentum Index runs from 1 (low) to 10 (high).

                                                                 remain loyal to the brand.

                                                                 The relatively strong Chinese economy
                                                                 accounts for the predicted growth of Baidu,
                                                                 China’s largest search engine.
BRaNd



                                 5
                                         Think Value For Money
                  KEy TaKE OuT




                                         Consumers always say
                                         they seek value for
                                 money. Now they really
                                 mean it. Silly spending is
                                 over for now. Few can afford
                                 it. Those who can afford
                                 excessive spending do not
                                 want to seem vulgar to family
                                 and friends. Understatement
                                 is in. Focus your marketing
                                 communication to reframe or
                                 confirm perceptions of value.




25                                                                                                                                      BrandZ Top 100 Most Valuable Global Brands 2009   26
TOP 20 RISERS                                                                                                     Top 20 Risers (year-on-year % Brand Value Growth)
                                                                                                             #     Brand                                        Brand Value
                                                                                                                                                                Growth

                                                                                                             1     China Merchants Bank                         168%
 Top 20 Risers                                     Technology
                                                   AT&T, BlackBerry, Movistar, O2 and Vodafone.              2     BlackBerry                                   100%
 This Top 20 risers chart lists the brands
 that gained the most in brand value               The stories vary, but each of these brands has            3     Amazon                                       85%
 year-on-year. It includes a diverse range         exhibited a level of innovation and leadership




                                                                                                                                                                                                  TOP 20 RISERS
                                                   that has resulted in substantial appreciation             4     Wendy's                                      72%
 of brands.
                                                   of brand value. A few of the mobile operator
                                                                                                             5     AT&T                                         67%
 The list includes financial, mobile, spirits,     brands share one other thing in common –
 technology, retail, beer, fast food, coffee and   exclusive country deals with Apple’s iPhone.              6     ALDI                                         49%
 cigarette brands, proving that you can build
 a strong brand in any category.                   At Home                                                   7     Auchan                                       48%
                                                   Nespresso, Amazon and Kronenbourg 1664
 While each of the brands has its own                                                                        8     Vodafone                                     45%
                                                   As consumers try to save money in the
 particular story, the top 20 risers can be        downturn, there has been a resulting growth               9     Johnnie Walker                               42%
 split neatly into four groups:                    in brands that can be enjoyed at home.
                                                   By negotiating the current economic climate               10    Kronenbourg 1664                             41%
 Value                                             better than the competition and through
 ALDI, Auchan, McDonald’s and Wendy’s.             product and marketing innovations,                        11    O2                                           36%

 Brands fulfilling an increasing shopper           the brands listed here were well positioned
                                                                                                             12    ICBC                                         36%
 desire for good value for money – due to a        to catch the prevailing winds. They are by
 cheap price or high quality product. These        definition leaders whose experience offers                13    Rolex                                        35%
 brands successfully executed well-considered      important lessons in building brand value.
 strategies to benefit from changing consumer                                                                14    Movistar                                     34%
 behavior in today’s difficult economy.
                                                                                                             15    McDonald’s                                   34%
 BRICs
                                                                                                             16    BBVA                                         33%
 China Merchants Bank, BBVA, Chivas,
 ICBC, Johnnie Walker, Marlboro, Nivea                                                                       17    Marlboro                                     33%
 and Rolex
                                                                                                             18    Chivas                                       30%
 While European and North American
 markets suffered from economic disruption,                                                                  19    Nespresso                                    27%
 these brands rose in value primarily because


                                                                        6
 they are based in, or trade in, one of the                                    Get Personal                  20    Nivea                                        24%
                                                         KEy TaKE OuT




 fast-growing BRIC economies.                                                  Some of the world’s fastest
                                                                                                             Source: Millward Brown Optimor (including data
                                                                               growing brands have been      from BrandZ, Datamonitor, and Bloomberg)
                                                                        built by personalizing technology.
                                                                        The success of brands like
                                                                        Google, BlackBerry, Apple and
                                                                        Amazon is amazing. Each of these
                                                                        brands is delivering an experience
                                                                        that is not only easy, friendly
                                                                        and fun to use, but one that is
                                                                        customized to each user.




27                                                                                                                                                                            BrandZ Top 100 Most Valuable Global Brands 2009   28
NEWCOMERS   Today’s Trends Energize Long-Term                                                         Newcomers to the Top 100
              Brand Building                                                                      #     Brand                                                 Brand Value
                                                                                                                                                              $M
              Sometimes it looks like an overnight success.                                       31    Pampers                                               18,945
              But it rarely is.
                                                                                                  32    Nintendo                                              18,233
              The brands that entered the BrandZ Top
              100 for the first time this year achieved their                                     36    Visa                                                  16,353
              positions due to hard work over many years,
                                                                                                  61    TD                                                    10,991
              developing and communicating clear and
              sustainable benefits. Pampers, the highest-                                         64    Wrigley’s                                             10,841
              ranked newcomer, is a good example of
              dedicated brand-building over a period of                                           68    DHL                                                     9,719
              time paying off.
NEWCOMERS
                                                                                                  72    Beeline                                                 8,884
              The newcomers caught a tailwind which
              helped to propel them to their current                                              74    ALDI                                                    8,638
              position. For some, their category was
                                                                                                  77    O2                                                      8,601
              especially strong; for others, they served
              one or some of the growing BRIC markets;                                            79    Red Bull                                                8,154
              whilst for others they were well-positioned
              for the current economic downturn:                                                  80    China Merchants Bank                                    8,052

              • Two mobile operators, Beeline and O2, have                                        94    KFC                                                     6,721
                grown in very different markets. Beeline in
                                                                                                  96    Nivea                                                   6,572
                Russia and O2 in Europe.
                                                                Emotional Bonds
              • With China Merchants Bank are examples                                            98    Bradesco                                                6,565
                                                                Jumping into the ranking at
                of great brands that have been developed        number 31, Pampers, with
                in one market. It will be interesting to see                                      100 Lowe’s                                                    6,394
                                                                a brand value of $18.9 billion,
                how they translate this success as they         is the highest newcomer
                                                                                                  Source: Millward Brown Optimor (including data
                grow abroad. China Merchants Bank,              this year.                        from BrandZ, Datamonitor, and Bloomberg)
                for example, has recently opened its first      This accomplishment
                branch outside China.                           reflects the ongoing efforts
                                                                of Procter & Gamble doing
              • ALDI, the deep-discount supermarket,            what it does best - building
                drew customers looking to save money.           billion-dollar brands.
                Nivea, the personal care brand, benefited       In a category where
                from customers trading down from more           innovation has been
                expensive products and from its popularity      key, Pampers has gone
                                                                beyond function to create
                in China.                                       an emotional bond with
                                                                consumers. Pampers are
                                                                doing more then selling
                                                                diapers, they are actually
                                                                contributing to the happiness
                                                                and well-being of mothers
                                                                and babies around the
                                                                world. This big ideal was
                                                                brought to life through the
                                                                highly successful campaign
                                                                with Unicef, demonstrating
                                                                Pampers' commitment to
                                                                making in a difference to
                                                                the world.



 29                                                                                                                     BrandZ Top 100 Most Valuable Global Brands 2009     30
REGIONS   High-Value Brands Based in all Regions                  Top 10 by Brand Value – asia                                                 Top 10 by Brand Value – Europe (Including uK)
                                                                #   Brand                              Brand       Brand        Brand        #   Brand                            Brand       Brand        Brand
            These charts list the World’s most valuable                                                Value       Contribution Momentum                                          Value       Contribution Momentum
                                                                                                       $M                                                                         $M
            brands according to where they are
            geographically based.                               1 China Mobile                         61,283           3            8       1 Vodafone                           53,727           3            2

            North America owns a large number of the            2 ICBC                                38,056            2          N/A       2 Nokia                              35,163           3            4
            highest-value brands. Asia is home to a growing
                                                                3 Toyota                               29,907           4            6       3 BMW                                23,948           4            9
            number of leading brands, especially in the car,
            financial institution, and technology categories.   4 China Construction Bank 22,811                        2          N/A       4 SAP                                23,615           2            5

            Each region experienced some churn in               5 Bank of China                        21,192           2          N/A       5 Tesco                              22,938           4            9
            the rankings last year, as fast-rising brands,
            such as BlackBerry in the U.S. and O2 in            6 Nintendo                             18,233           3            5       6 Louis Vuitton                      19,395           4            7
            the UK, replaced financial institutions that
            declined in value because of the global             7 NTT DoCoMo                           15,776           2            3       7 HSBC                               19,079           2           N/A
            economic crisis.
                                                                8 Honda                                14,571           3            7       8 Porsche                             17,467          5            3

                                                                9 Nissan                               10,206           2            4       9 Santander                          16,035           2           N/A

                                                                10 Canon                                8,779           2            2       10 Mercedes                          15,499           4            4




                                                                    Top 10 by Brand Value – North america                                        Top 10 by Brand Value – uK
                                                                #   Brand                              Brand       Brand        Brand        #   Brand                            Brand       Brand        Brand
                                                                                                       Value       Contribution Momentum                                          Value       Contribution Momentum
REGIONS

                                                                                                       $M                                                                         $M

                                                                1 Google                             100,039            3            3       1 Vodafone                          53,727            3             2

                                                                2 Microsoft                            76,249           3            8       2 Tesco                             22,938            4             9

                                                                3 Coca-Cola*                           67,625           4            8       3 HSBC                               19,079           2           N/A

                                                                4 IBM                                  66,622           3            5       4 O2                                  8,601           2             6

                                                                5 McDonald's                           66,575           4            6       5 Standard Chartered Bank 8,219                       2           N/A

                                                                6 Apple                                 63,113          3            9       6 Barclays                            6,992           2           N/A

                                                                7 GE (General Electric)                59,793           2            3       7 Marks & Spencer                     6,029           4             8

                                                                8 Marlboro                             49,460           4            9       8 BP                                  5,936           2             2

                                                                9 Wal-Mart                             41,083           2            9       9 ASDA                                5,413           3             9

                                                                10 BlackBerry                           27,478          2            6       10 Smirnoff                           5,201           3             4

                                                                *The brand value of Coca-Cola includes Diet Coke, Coke Light and Coke Zero   Source: Millward Brown Optimor (including data
                                                                                                                                             from BrandZ, Datamonitor, and Bloomberg)




 31                                                                                                                                                                BrandZ Top 100 Most Valuable Global Brands 2009    32
SECTORS




 aPPaREL
 Value Is Setting the Trend                      Zara fared better than many of the other              apparel
                                                 apparel brands. It seems its just-in-time       #     Brand                            Brand Value       Brand                    Brand            Brand Value
 Spurred on by the credit crunch, shoppers       production model, developed to provide fast                                            $M                Contribution             Momentum         Change
 are in search of value. H&M, the global chain   fashion in good times, is well suited to the
 known for offering high style at low prices,    current environment where declining sales       1     H&M                              12,061                    2                     8                8%
 passed Nike to become the world’s number        require closely calibrated inventory control.
                                                                                                 2     Nike                             11,999                    4                     7               -4%
 one apparel brand.
                                                 In contrast to many of the bricks and mortar    3     Zara                               8,609                   2                     8                -1%
 The sector has been hit hard, with most         stores, online and direct shopping are
 brands experiencing a drop in brand value.      performing well as consumers bargain hunt       4     Esprit                             6,571                   3                     6              -17%
 Even the most exclusive brands have been        from the comfort of their own homes.
 forced to slash prices to entice customers;                                                     5     Adidas                             4,949                   3                     5                2%
 Ralph Lauren lost 20 percent of its brand
                                                                                                 6     Ralph Lauren                       3,031                   3                     5             -20%
 value, although the brand held its place in
 the rankings at number six.
                                                 Even the most exclusive brands
                                                                                                 7     Puma                               1,892                   3                     3              -19%
                                                 have been forced to slash prices
                                                 to entice customers                             8     Next                               1,670                   2                     9             -39%

                                                                                                 9     Gap                                1,298                   2                     3               -9%

                                                                                                 10    Old Navy                             986                   2                     5               -7%

                                                                                                 Source: Millward Brown Optimor (including data from BrandZ,
                                                                                                 Datamonitor, and Bloomberg)




                                    100%
                                                      Value

33                                                                                                                                                             BrandZ Top 100 Most Valuable Global Brands 2009    34
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BrandZ Report

  • 1. 1 BrandZ Top 100 Most Valuable Global Brands 2009 2
  • 2. Welcome to the fourth annual Let me begin with a brief explanation of what Quantifying a brand’s value is just the first the ranking is about, why it’s important, and step. The real objective is to understand the how it can help you and your business. levers through which brand value is created, BrandZ Top 100 Most Valuable in order to identify opportunities to grow the The BrandZ Top 100 is the most value of the brand and business. comprehensive and robust brand ranking available. The valuations are based not only on Millward Brown Optimor is a global brand Global Brands ranking financial and market data but also on BrandZ – the world’s largest brand equity database. strategy and financial consultancy. Our goal is to help companies maximize the ROI from their brand strategy and marketing We believe that there are some important investments. We provide actionable takeaways from the study. recommendations with demonstrated financial results on key issues facing First of all, brands matter—they are valuable marketing leaders. assets which on average account for approximately one third of corporate value. Please accept this report with our Brands should therefore be taken seriously complements and with confidence that the by CEOs. Expenditure on brand and information it contains will broaden your marketing should be treated not as a understanding of leading brands and suggest cost but as an investment. possibilities that can benefit your own brands. The study shows that the importance of Feel free to contact me with any questions, branding stretches far beyond consumer or simply to have a conversation about packaged goods. The Top 100 includes how we can work together to achieve brands from almost every industry category. your brand objectives. Any business can create competitive advantage through brand building Sincerely, Brands are especially important during a recession. While stock markets have been crashing all around, the Top 100 brands have maintained their value. Strong brands are helping to protect their businesses from risk, Joanna Seddon and position them for future growth – the CEO Millward Brown Optimor ultimate return on investment. Designed by Lambie-Nairn 3 www.lambie-nairn.com BrandZ Top 100 Most Valuable Global Brands 2009 4
  • 3. CONTENTS [WORK IN PROGRESS] CONTENTS Introduction 7 Methodology 11 Commentary 13 The Top 100 15 Brand Contribution 23 Brand Momentum 25 Top 20 Risers 27 Newcomers 29 Regions 31 Sectors 33 Apparel 33 Beer 35 Bottled Water 37 Cars 39 Coffee 41 Fast Food 43 Financial Institutions 45 Gaming Consoles 47 Insurance 49 Luxury 51 Mobile Operators 53 Motor Fuel 55 Personal Care 57 Retail 59 Soft Drinks 61 Spirits 63 Technology 65 Key Take Outs 67 Data Sources 69 Directory 71 5 BrandZ Top 100 Most Valuable Global Brands 2009
  • 4. INTROduCTION The Resilience of Brand Value This fourth annual BrandZ ranking contains many new features and findings, but none as revealing as this one: In a year of global economic turmoil, when every key financial indicator plummeted, the value of the top 100 brands increased by 2 percent to $2 trillion. This result affirms the resiliency of brands and the importance of quantifying the contribution of brand equity to a company’s market value. Google Microsoft Brands are among a company’s most valuable Coca-Cola IBM assets. Strong brands have the power McDonald's Apple to create real and sustainable competitive China Mobile GE Vodafone Marlboro advantage. They can: Wal-Mart ICBC BlackBerry Nokia • Drive revenue growth by ensuring higher Toyota UPS HP BMW SAP Disney demand and market share Tesco Gillette Intel China Construction Bank • Help improve margins by commanding Oracle Amazon premium prices and better supplier terms Bank of China AT&T Louis Vuitton HSBC • Reduce capital requirements by minimizing Pampers Nintendo Cisco the costs of entry into new categories Verizon Wireless Porsche American Express Visa Wells Fargo Santander Strong brands can also create differentiation that NTT DoCoMo Mercedes allows companies to overcome commoditization Bank of America Dell and reduce overall business risk. Accenture Pepsi L'Oréal Carrefour RBC Citi Honda Siemens Budweiser Orange eBay Bradesco BBVA Colgate Target H&M Nike SUBWAY TD Movistar T-Mobile Wrigley's Auchan Chase Nissan DHL FedEx Home Depot MTS Beeline Canon ALDI Avon Zara O2 Standard Chartered Red Bull China Merchants Bank Yahoo! Hermès JP Morgan Ariel Tide Gucci MasterCard Goldman Sachs Starbucks Barclays State Farm Morgan Stanley ING KFC IKEA Nivea Esprit In a year of global financial turmoil, when every key financial indicator plummeted, the value of the top 100 brands increased by 2 percent to $2 trillion 7 BrandZ Top 100 Most Valuable Global Brands 2009 8
  • 5. INTROduCTION The ultimate brand evaluation tool In addition, a new category has been added – gaming – bringing the total number of Knowing a brand’s value enables the categories we publish to 17. The categories CEO, investors, and other stakeholders include: apparel, beer, bottled water, cars, to make better, more informed decisions. coffee, fast food, financial institutions, gaming, The return on investment in marketing The BrandZ insurance, luxury goods, mobile operators, initiatives, for example, can be more motor fuel, personal care, retail, soft drinks, accurately understood when an intangible spirits, and technology. asset like brand has a monetary value database provides that can be tracked. The central role of brand value in business Key advantages The key advantages of the BrandZ Top 100 a detailed, quantified decision-making indicates the importance Most Valuable Global Brands are that it is: of using the most sensitive and sophisticated brand-evaluation tools. This is the only ranking • Drawn from the world’s largest brand understanding based on a brand valuation methodology that equity database is grounded in both customized consumer • Customer focused, measuring the strength research and in-depth financial analysis. of brands, not corporations of consumer Insights into consumer behavior and brand perceptions come from the proprietary • Comprehensive, with more countries, categories, and brands researched than decision-making BrandZ database – the largest repository other rankings of brand equity data in the world. • Predictive, calculating prospects for near-term growth. worldwide Covering thousands of brands in more than 30 countries, and based on more The BrandZ ranking combines the knowledge than a million in-depth consumer interviews, and expertise of Millward Brown Optimor the BrandZ database provides a detailed, and the unparalleled global economic and quantified understanding of consumer communication resources of WPP. In short, decision-making worldwide. The financial the BrandZ Top 100 Most Valuable Global analysis is based on information provided Brands is the most reliable, comprehensive, le are still willing by Bloomberg, Datamonitor and other 1 ve to be of Brands Still Matter and useful brand valuation ranking available. KEy TaKE OuT llward Brown Even when money is tight, leading sources. International Monetary viduals would people are still willing to pay Fund projections were used this year to ategories such for things that they perceive to be further validate financial forecasts (For a an downgrade to of value. For example, a recent full explanation of methodology, please China, the brand Millward Brown study in China see page 11). also a certain revealed that individuals would than ever. rather buy less of a product in categories such as alcohol and snacks rather than downgrade to cheaper brands. In markets like China, the brand does not only signify quality but also a certain status. Brands matter now more than ever. 9 BrandZ Top 100 Most Valuable Global Brands 2009 10
  • 6. METHOdOLOGy How Brand Value is Calculated The data Sources The Valuation Process This guarantees that the Brand Contribution is rooted in real-life customer perceptions Millward Brown Optimor applies an Customer Opinion 1. Branded Earnings and behavior, not spurious ‘expert opinion’: economic approach to brand valuation, and The secret ingredient is WPP’s BrandZ What proportion of a company’s earnings is in some categories, brand is important — uses a methodology similar to that employed database, based on an annual quantitative generated “under the banner of the brand”? luxury, cars, or beer, for instance. In categories by analysts and accountants. brand equity study in which consumers and like motor fuel, on the other hand, price and business customers familiar with a category First, the branded earnings are identified. location play a very strong role. Furthermore, The brand value published is based on the evaluate brands. For example, in the case of Coca-Cola as markets develop, consumer priorities and intrinsic value of the brand — derived from some earnings are not branded Coca-Cola, the role of brand may change. And even in its ability to generate demand. The dollar Since BrandZ’s inception over 10 years but come from Fanta, Sprite or Minute strongly branded categories, some successful value of each brand in the ranking is the sum ago, more than one million consumers and Maid. Once identified capital charges are brands that compete heavily on price. of all future earnings that brand is forecast to business-to-business customers across subtracted. This ensures only value above generate, discounted to a present day value. 31 countries have shared their opinions and beyond what investors would require 3. Brand Multiple Given the high volatility of financial markets about thousands of brands. It is the most any investment in the brand to earn is What is the growth potential of the brand- over the past 12 months, the brand value is comprehensive, global, and consistent study captured: The value the brand adds to the driven earnings? in some cases high relative to current market of brand equity. business. This provides a bottom-up view capitalization, reflecting true value rather than of the earnings of the branded business. In the final step, the growth potential of these current market swings. Financial Performance branded earnings is taken into account. Both Financial data is sourced from Bloomberg, 2. Brand Contribution financial projections and consumer data is analyst reports, Datamonitor™ industry How much of these branded earnings are analyzed. This provides an earnings multiple reports, and company filings with regulatory generated due to the brand’s close bond aligned with the methods used by the analyst bodies. Financial models are then prepared with its customers? community. It also takes into account brand- for each brand that link brand perceptions to specific growth opportunities and barriers. company revenues, earnings, and ultimately The portion of these earnings driven by To capture the weaker economic outlook, shareholder and brand value. brand equity is called “Brand Contribution”: all projections have been validated using The degree to which brand plays a role in IMF economic growth forecasts. The BrandZ Top 100 values market-facing generating earnings. This is established brands, i.e. brands which directly generate through analysis of country-, market-, and The Brand Momentum™ indicator that revenues and profits through the sale of brand-specific consumer research from indicates each brand’s growth is based on this goods and services to customers. Corporate the BrandZ database. evaluation. It is presented as an indexed figure brands such as Procter & Gamble, Unilever that ranges from 1 to 10 (10 being high). and Nestle which have significant value Corporate especially with the investment community, Earnings ‘Branded’ are not included in the ranking. Brand 2 Earnings ‘Branded’ $ x % x M Go Global – Effectively KEy TaKE OuT Intangible Value = Earnings Being recognizable in many $ markets is not by itself a $ passport to success. That requires adapting your brand and offer to be relevant in each particular market. Step 1. Step 2. Step 3. As Millward Brown’s Chief Global Intangible Earnings Brand Contribution Brand Multiple Analyst Nigel Hollis writes: “The Intangible corporate earnings Portion of intangible Brand earnings multiple. ones that transcend their origins and allocated to each brand earnings attributable Calculated based on create strong, enduring relationships by country, based on to brand. market valuations, brand with consumers across countries company and analyst reports, Directly driven by growth potential and and cultures.” industry studies, revenue BrandDynamics™ Loyalty Voltage™ as measured estimates, etc Pyramid and Category by BrandDynamics™ Segmentation collected within the BrandZ study Data Sources Data Sources Data Sources 11 BrandZ Top 100 Most Valuable Global Brands 2009 12
  • 7. COMMENTaRy To talk of brands having been invented is Gardner and Levy drew our attention to the equivalent of saying that Christopher the fact that the personality of a product, Columbus invented America. America had as created in the head of each observer, been around for a very long time before could be as important to its users as its To talk of brands having been he bumped into it – just as brands had been around for a very long time before function. And they suggested a relatively new role for advertising. invented is the equivalent the Harvard Business Review brought them to our attention. People build brands in their heads as a of saying that Christopher result of an almost infinite number of clues, Columbus invented america. It’s certainly true that companies invent products. But the only people who invent cues, facts, myths and brand encounters. Some, like product performance and brands are people. all paid-for publicity including packaging and promotions, are within the control When you first started thinking of that school of the product’s owner. Many others, like down the road from your own – the one that the behavior of competitors, news items, always beat you at games – you invented and the likeability or otherwise of other your first brand. It had a name – and it users, are not. Service brands, for obvious had a very clear personality. You couldn’t reasons, are notoriously difficult to keep in line. say exactly why you hated it – but you did. And what’s more, so did your friends. So the real role for all these experts who COMMENTaRy claim to build brands (but don’t) is to help But if you’d asked the boys and girls from the people who do build brands – real people by Jeremy Bullmore the school down the road what they thought – build them as attractively as possible. of their school, you’d have got a very different Their job is first to create and then supply O ne of the more hilarious beliefs answer. How puzzling. Exactly the same the raw material from which real people, about brands is that brands were school, yet two totally different reputations. individual by individual, compose in their invented by manipulative marketeers How come? Because brand reputations exist heads that complex and subjective construct in order to persuade the guileless consumer only in the minds of their observers – and all we call a brand image. to pay over-the-odds for some otherwise observers are different. unremarkable commodity. Naomi Klein In theory, therefore, (and probably in practice) and her followers feel strongly on the subject Long before 1955, women in primitive villages the reputation of a brand within a million and use the word manipulate a lot. would buy their cooking oil from unmarked people’s heads will have a million slightly steel barrels. Sometimes the oil was good different versions. But as the research behind More surprisingly, even some brand consultants, and sometimes not so good. So the women BrandZ clearly illustrates, the strongest with a touching mixture of braggadocio and made a note of those whose oil was good brands are those that enjoy what’s been shifty shame, half agree. They take sole credit and determined to buy only from them. called a (favorable) consensus of subjectivity. for having developed a practice that, even if They’d invented a brand. And the sellers of And that’s when their brand managers, morally questionable, has undoubtedly made the good oil quickly cottoned on and gave in the widest sense of that phrase, should their clients and themselves a lot of money. their oil a distinctive name so that the women be most warmly congratulated. They didn’t They build brands. would more easily know which oil to trust build those brands themselves; but they and which to avoid. Trust and familiarity go fed such enticing titbits to their audience And so, they all claim, does every design hand in hand. The women who were now that their audience gratefully did the rest. company and advertising agency and committed to the better oil (loyal consumers) marketing company and management not only respected it but began to be fond of consultant. And they’ve all been building it, as people do of familiar things. brands since 1955 which was when brands were invented – because that was the year And all this, of course, spurred the sellers that the Harvard Business Review published of the inferior oil into making it better because The Product and the Brand by Sidney Levy otherwise they’d have gone out of business. and Burleigh Gardner. The trouble, of course, Consumer protection began not with is that Gardner and Levy never pretended legislation but with brands. to have invented brands. 13 BrandZ Top 100 Most Valuable Global Brands 2009 14
  • 8. THE TOP 100 Why We Can Believe in the Power of Brands Life changed. The stock market plummeted. Home prices plunged. Retirement savings disappeared. Many of the reliable touchstones that gave people’s lives stability, coherence, and security collapsed last year. But not all of them. TOP The value of brands remains strong. The total value of the BrandZ Top 100 Most Valuable Global Brands has increased by 2 percent to just under $2 trillion dollars ($1.95 trillion to be precise). Nine of the top 10 brands from last year remain in the top 10. ONE Among the top 100 brands, 85 remain from last year’s listing. Of those that have dropped out of the ranking, nine were from categories particularly hard-hit by the economic storm: cars, financial institutions, and insurance. Of the 17 categories covered this year, 11 have increased in overall brand value. Most others have experienced only a moderate HuNd erosion in value. Even the luxury category has gained in brand value by 10 percent, affirming the deep and enduring claim that well-crafted items and brand heritage have on our imaginations and wallets. REd Customers are not holding their breath during this economic volatility. They are adjusting their coping strategies, while remaining determined to purchase brands that contribute to the pleasure, quality, purpose, and security of their lives. 15 BrandZ Top 100 Most Valuable Global Brands 2009 16
  • 9. * The brand value of Coca-Cola includes Diet Coke, Coke Light and Coke Zero THE TOP 100 ** The brand value of Pepsi includes Diet Pepsi and Pepsi *** Budweiser’s value includes both Bud Light and Bud **** ING value includes ING Bank and ING Insurance Source: Millward Brown Optimor (including data from BrandZ, Datamonitor, and Bloomberg) TOP 100 Most Valuable Global Brands 2009 TOP 100 TOP 100 TOP 100 # Brand Brand Value % Brand Value # Brand Brand Value % Brand Value # Brand Brand Value % Brand Value # Brand Brand Value % Brand Value 09 ($M) Change 09 vs. 08 09 ($M) Change 09 vs. 08 09 ($M) Change 09 vs. 08 09 ($M) Change 09 vs. 08 1 100,039 16% 26 21,294 85% 51 13,562 -8% 76 8,609 -1% 2 76,249 8% *** 27 21,192 9% 52 13,292 23% 77 8,601 36% 3 * 67,625 16% 28 20,059 67% 53 13,242 -6% 78 8,219 20% 4 66,622 20% 29 19,395 5% 54 12,970 16% 79 8,154 N/A 5 66,575 34% 30 19,079 3% 55 12,549 33% 80 8,052 168% 6 63,113 14% 31 18,945 N/A 56 12,396 17% 81 7,927 -31% 7 61,283 7% 32 18,233 N/A 57 12,254 -17% 82 7,862 13% 8 59,793 -16% 33 17,965 -25% 58 12,061 8% 83 7,852 -20% 9 53,727 45% 34 17,713 -8% 59 11,999 -4% 84 7,777 -8% 10 49,460 33% 35 17,467 -20% 60 10,997 6% 85 7,512 -18% 11 41,083 19% 36 16,353 N/A 61 10,991 N/A 86 7,468 15% 12 38,056 36% 37 16,228 -34% 62 10,911 34% 87 7,427 7% 13 35,163 -20% 38 16,035 10% 63 10,864 22% 88 7,415 -38% 14 29,907 -15% 39 15,776 5% 64 10,841 N/A 89 7,260 -40% 15 27,842 -9% 40 15,499 -14% 65 10,586 48% 90 6,992 -5% 16 27,478 100% 41 15,480 -53% 66 10,582 -17% 91 6,922 -27% 17 26,745 -9% 42 15,422 1% 67 10,206 -13% 92 6,765 -40% 18 23,948 -15% 43 15,076 7% 68 9,719 19% 93 **** 6,743 -55% 19 23,615 9% 44 ** 14,996 -3% 69 9,491 -17% 94 6,721 10% 20 23,110 -3% 45 14,991 -9% 70 9,280 -40% 95 6,713 -21% 21 22,938 -1% 46 14,963 -40% 71 9,189 14% 96 6,572 24% 22 22,919 6% 47 14,961 -1% 72 8,884 N/A 97 6,571 -17% 23 22,851 4% 48 14,894 -22% 73 8,779 -29% 98 6,565 N/A ® 24 22,811 16% 49 14,608 -52% 74 8,638 49% 99 6,409 -19% 25 21,438 -6% 50 14,571 -12% 75 8,631 20% 100 6,394 N/A 17 BrandZ Top 100 Most Valuable Global Brands 2009 18
  • 10. THE TOP 100 3 Don’t Be Greedy KEy TaKE OuT Trends Consumers are not in the mood for greed. Value And greed is not required for Consumers have not given up on quality. success. Once we are on the They are simply becoming more astute about other side of this economic slowdown, consumer spending the price they are prepared to pay for quality. will pick up. But perhaps slowly, ALDI has one of the biggest increases in as people internalize the lessons brand value, 49 percent. Wal-Mart moves of our recent boom and bust up two places and is now number 11. history. They will want quality, intelligently-created, well- designed products. But they At Home may not want one in every color. People are retreating to home to enjoy small Small Vices pleasures, often with family and friends. Value increases for the beer, cigarette, fast The trend contributes to the popularity food, and coffee categories suggest that of gaming. Nintendo made it into the Top people are allocating some disposable 100 for the first time this year, at number 32. income for their habitual vices. The coffee category grew by 18 percent year-on-year as consumers cut down on visits Control to coffee houses and instead buy premium Since so much seems out of control, coffee for brewing at home. Increased at-home people are trying to control what they can – consumption is also driving brand value spending. They use debit cards in an attempt increases in the beer and spirits categories. to reduce credit card debt, and are much more careful about when and where they Affordable Indulgence shop. Focused shopping replaces trips to Outside the home, consumers are seeking malls and destination stores. Online shopping TRENdS out purchases that deliver simple enjoyment at benefits, driving the Amazon brand up 35 a modest price. Small luxury items such as places in the BrandZ ranking to number 26, sunglasses and lipsticks continue to sell well. an 85 percent rise in value. Johnnie Walker’s 42 percent growth in brand value makes it the biggest growing spirits Health brand and one of the top 10 risers. The concern with personal health is not a new trend. But, significantly, it has continued even in the harsh economy. The personal care category has benefited as people spend on oral care rather than risk extensive dental expenses. Healthier menus, along with affordability, are drawing more customers to fast food restaurants. The rise of Bud Light to first place in the beer category is another indication of this ongoing trend. Small luxuries such as sunglasses and lipsticks continue to sell well 19 BrandZ Top 100 Most Valuable Global Brands 2009 20
  • 11. THE TOP 100 Seriousness Opportunities and Challenges Year-on-Year Growth in Total Category Value Frugality is replacing conspicuous consumption 30 across most categories. In personal care, All of these trends and developments for example, consumers are trading down present opportunities and challenges for to mid-level brands. Similarly, in spirits the brand marketers. -11% Financial Institutions premium brands benefit as consumers trade 20 down from ultra premium. People are drinking Global reach adds growth, knowledge, and more tap and less bottled water. And those a hedge against the fluctuations of regional -5% Motor Fuel -48% Insurance who can afford to buy products at the top end economies, but it does not by itself guarantee -9% Apparel are less likely to flaunt them. brand success. That requires effectively 10 -22% Cars balancing brand heritage with the particular Technology cultural expectations of each market. People are continuing to rely on technology to help organize, simplify, and add new As personal, corporate, and category 0 capabilities to their lives. The mobile operator reputations suffered, brand strength endured, Beer 15% Luxury 10% 7% 5% 2% 2% 2% Soft Drinks 24% Coffee 18% Fast Food 16% Mobile Operators 28% category is the biggest-growing in the ranking. suggesting that the reservoir of brand trust And seven of the top 10 brands in the BrandZ runs deep. In this environment, brands have Retail Spirits Technology Personal Care Bottled Water Top 100 come from the technology or mobile become more important and earning and -10 operator categories. sustaining customer trust remains the greatest guarantor of long-term brand success. -20 -30 4 Stay Positive KEy TaKE OuT Consumers are angry – at government, at large institutions, at entire sectors. But they are not -40 Change in Category Value angry at your brand. Brand strength Innovations in handsets and activity in the BRIC is stable over time. It is disrupted markets drove growth in the mobile operator only when something new enters the category. Generally, the rates of growth or decline market or when the brand upsets the in the other categories depended on whether they relationship with consumers. It takes -50 were well positioned during the global economic a lot to make that happen. A recent crisis (fast food) or not (financial institutions Millward Brown study of the financial and insurance). sector revealed that consumers are likely to aim their current displeasure Source: Millward Brown Optimor (including data from BrandZ, Datamonitor, and Bloomberg) at the sector or at certain high-profile individuals. The displeasure consumers feel, however, does not seem to dramatically alter their experience with individual brands. 21 BrandZ Top 100 Most Valuable Global Brands 2009 22
  • 12. BRaNd CONTRIBuTION Top 15 by Brand Contribution # Brand Brand Value Brand $M Contribution* 1 Moët & Chandon 4,847 5 2 Porsche 17,467 5 3 Hennessy 5,403 5 4 Douwe Egberts 732 5 CONTRIBuTION 5 Tide 7,512 5 6 Wrigley's 10,841 5 7 Gillette 22,919 5 8 Pampers 18,945 5 9 Skol 2,223 4 10 Chanel 6,219 4 11 Louis Vuitton 19,395 4 12 Armani 2,345 4 13 Mercedes 15,499 4 Emotional Bonds add Brand Value 14 Hermès 7,862 4 Brand contribution is the proportion of 15 Fendi 3,469 4 financial value driven purely by brand equity. Source: Millward Brown Optimor (including data Gum Provides Bite-Size Luxury from BrandZ, Datamonitor, and Bloomberg) It is a good measure of a brand’s emotional BRaNd It is often the little things that make a difference. * The Brand Contribution Index runs from 1 (low) up to 5 (high). bond with its customers. The high scores of the brands in this table indicate deep A pack of gum – a bit of cheer – is still and enduring attachments. affordable to most people, even in these times. That explains why people buy gum; it does not explain why they choose Wrigley’s. It is not surprising that this list contains some of the world’s most exalted luxury brands. The answer to that question reveals why Wrigley’s, often an incidental add-on Luxury brands, almost by definition, have purchase with a newspaper, appears in a a very highly bonded group of customers brand contribution list that includes some who are prepared to pay a premium. of the world’s most revered luxury brands. With its extensive distribution network, What is more interesting is that the list contains Wrigley’s is normally front-of-shelf, which several brands for everyday products, which makes it front-of-mind, the only place to be you might not expect consumers to build when the shopper is making a spontaneous decision about whether and what to purchase. such strong bonds with. The presence on this list of Wrigley’s, Gillette, Pampers Wrigley’s is, in a sense, a luxury brand. It provides a little daily luxury at an affordable and Tide suggests that it is possible to build price that discourages trading down because strong bonds with everyday products. the savings would be insignificant. 23 BrandZ Top 100 Most Valuable Global Brands 2009 24
  • 13. BRaNd MOMENTuM Top 10 by Brand Momentum Top 10 With Highest Brand Momentum # Brand Brand Value Brand Brand momentum is a measurement $M Momentum* predicting short-term growth prospects. 1 Amazon 21,294 10 The brands listed in this chart are expected 2 SUBWAY 10,997 10 to do well in the next year: Some because of the economic downturn, others despite it. 3 Baidu 5,768 10 Amazon has benefited from a shift to online 4 Apple 63,113 9 purchasing as consumers, attempting 5 Marlboro 49,460 9 to economize, try to control their shopping experience and find the lowest prices. 6 Wal-Mart 41,083 9 Increased price concern has also helped 7 BMW 23,948 9 discounters like Wal-Mart and ASDA. 8 Tesco 22,938 9 MOMENTuM The success of SUBWAY reflects both increased traffic at fast food restaurants and 9 ASDA 5,413 9 consumer preference for healthier menus. 10 Tim Horton's 3,843 9 BMW’s high brand momentum indicates Source: Millward Brown Optimor (including data pent up demand during the recession, from BrandZ, Datamonitor, and Bloomberg) as customers may defer purchases but * The Brand Momentum Index runs from 1 (low) to 10 (high). remain loyal to the brand. The relatively strong Chinese economy accounts for the predicted growth of Baidu, China’s largest search engine. BRaNd 5 Think Value For Money KEy TaKE OuT Consumers always say they seek value for money. Now they really mean it. Silly spending is over for now. Few can afford it. Those who can afford excessive spending do not want to seem vulgar to family and friends. Understatement is in. Focus your marketing communication to reframe or confirm perceptions of value. 25 BrandZ Top 100 Most Valuable Global Brands 2009 26
  • 14. TOP 20 RISERS Top 20 Risers (year-on-year % Brand Value Growth) # Brand Brand Value Growth 1 China Merchants Bank 168% Top 20 Risers Technology AT&T, BlackBerry, Movistar, O2 and Vodafone. 2 BlackBerry 100% This Top 20 risers chart lists the brands that gained the most in brand value The stories vary, but each of these brands has 3 Amazon 85% year-on-year. It includes a diverse range exhibited a level of innovation and leadership TOP 20 RISERS that has resulted in substantial appreciation 4 Wendy's 72% of brands. of brand value. A few of the mobile operator 5 AT&T 67% The list includes financial, mobile, spirits, brands share one other thing in common – technology, retail, beer, fast food, coffee and exclusive country deals with Apple’s iPhone. 6 ALDI 49% cigarette brands, proving that you can build a strong brand in any category. At Home 7 Auchan 48% Nespresso, Amazon and Kronenbourg 1664 While each of the brands has its own 8 Vodafone 45% As consumers try to save money in the particular story, the top 20 risers can be downturn, there has been a resulting growth 9 Johnnie Walker 42% split neatly into four groups: in brands that can be enjoyed at home. By negotiating the current economic climate 10 Kronenbourg 1664 41% Value better than the competition and through ALDI, Auchan, McDonald’s and Wendy’s. product and marketing innovations, 11 O2 36% Brands fulfilling an increasing shopper the brands listed here were well positioned 12 ICBC 36% desire for good value for money – due to a to catch the prevailing winds. They are by cheap price or high quality product. These definition leaders whose experience offers 13 Rolex 35% brands successfully executed well-considered important lessons in building brand value. strategies to benefit from changing consumer 14 Movistar 34% behavior in today’s difficult economy. 15 McDonald’s 34% BRICs 16 BBVA 33% China Merchants Bank, BBVA, Chivas, ICBC, Johnnie Walker, Marlboro, Nivea 17 Marlboro 33% and Rolex 18 Chivas 30% While European and North American markets suffered from economic disruption, 19 Nespresso 27% these brands rose in value primarily because 6 they are based in, or trade in, one of the Get Personal 20 Nivea 24% KEy TaKE OuT fast-growing BRIC economies. Some of the world’s fastest Source: Millward Brown Optimor (including data growing brands have been from BrandZ, Datamonitor, and Bloomberg) built by personalizing technology. The success of brands like Google, BlackBerry, Apple and Amazon is amazing. Each of these brands is delivering an experience that is not only easy, friendly and fun to use, but one that is customized to each user. 27 BrandZ Top 100 Most Valuable Global Brands 2009 28
  • 15. NEWCOMERS Today’s Trends Energize Long-Term Newcomers to the Top 100 Brand Building # Brand Brand Value $M Sometimes it looks like an overnight success. 31 Pampers 18,945 But it rarely is. 32 Nintendo 18,233 The brands that entered the BrandZ Top 100 for the first time this year achieved their 36 Visa 16,353 positions due to hard work over many years, 61 TD 10,991 developing and communicating clear and sustainable benefits. Pampers, the highest- 64 Wrigley’s 10,841 ranked newcomer, is a good example of dedicated brand-building over a period of 68 DHL 9,719 time paying off. NEWCOMERS 72 Beeline 8,884 The newcomers caught a tailwind which helped to propel them to their current 74 ALDI 8,638 position. For some, their category was 77 O2 8,601 especially strong; for others, they served one or some of the growing BRIC markets; 79 Red Bull 8,154 whilst for others they were well-positioned for the current economic downturn: 80 China Merchants Bank 8,052 • Two mobile operators, Beeline and O2, have 94 KFC 6,721 grown in very different markets. Beeline in 96 Nivea 6,572 Russia and O2 in Europe. Emotional Bonds • With China Merchants Bank are examples 98 Bradesco 6,565 Jumping into the ranking at of great brands that have been developed number 31, Pampers, with in one market. It will be interesting to see 100 Lowe’s 6,394 a brand value of $18.9 billion, how they translate this success as they is the highest newcomer Source: Millward Brown Optimor (including data grow abroad. China Merchants Bank, this year. from BrandZ, Datamonitor, and Bloomberg) for example, has recently opened its first This accomplishment branch outside China. reflects the ongoing efforts of Procter & Gamble doing • ALDI, the deep-discount supermarket, what it does best - building drew customers looking to save money. billion-dollar brands. Nivea, the personal care brand, benefited In a category where from customers trading down from more innovation has been expensive products and from its popularity key, Pampers has gone beyond function to create in China. an emotional bond with consumers. Pampers are doing more then selling diapers, they are actually contributing to the happiness and well-being of mothers and babies around the world. This big ideal was brought to life through the highly successful campaign with Unicef, demonstrating Pampers' commitment to making in a difference to the world. 29 BrandZ Top 100 Most Valuable Global Brands 2009 30
  • 16. REGIONS High-Value Brands Based in all Regions Top 10 by Brand Value – asia Top 10 by Brand Value – Europe (Including uK) # Brand Brand Brand Brand # Brand Brand Brand Brand These charts list the World’s most valuable Value Contribution Momentum Value Contribution Momentum $M $M brands according to where they are geographically based. 1 China Mobile 61,283 3 8 1 Vodafone 53,727 3 2 North America owns a large number of the 2 ICBC 38,056 2 N/A 2 Nokia 35,163 3 4 highest-value brands. Asia is home to a growing 3 Toyota 29,907 4 6 3 BMW 23,948 4 9 number of leading brands, especially in the car, financial institution, and technology categories. 4 China Construction Bank 22,811 2 N/A 4 SAP 23,615 2 5 Each region experienced some churn in 5 Bank of China 21,192 2 N/A 5 Tesco 22,938 4 9 the rankings last year, as fast-rising brands, such as BlackBerry in the U.S. and O2 in 6 Nintendo 18,233 3 5 6 Louis Vuitton 19,395 4 7 the UK, replaced financial institutions that declined in value because of the global 7 NTT DoCoMo 15,776 2 3 7 HSBC 19,079 2 N/A economic crisis. 8 Honda 14,571 3 7 8 Porsche 17,467 5 3 9 Nissan 10,206 2 4 9 Santander 16,035 2 N/A 10 Canon 8,779 2 2 10 Mercedes 15,499 4 4 Top 10 by Brand Value – North america Top 10 by Brand Value – uK # Brand Brand Brand Brand # Brand Brand Brand Brand Value Contribution Momentum Value Contribution Momentum REGIONS $M $M 1 Google 100,039 3 3 1 Vodafone 53,727 3 2 2 Microsoft 76,249 3 8 2 Tesco 22,938 4 9 3 Coca-Cola* 67,625 4 8 3 HSBC 19,079 2 N/A 4 IBM 66,622 3 5 4 O2 8,601 2 6 5 McDonald's 66,575 4 6 5 Standard Chartered Bank 8,219 2 N/A 6 Apple 63,113 3 9 6 Barclays 6,992 2 N/A 7 GE (General Electric) 59,793 2 3 7 Marks & Spencer 6,029 4 8 8 Marlboro 49,460 4 9 8 BP 5,936 2 2 9 Wal-Mart 41,083 2 9 9 ASDA 5,413 3 9 10 BlackBerry 27,478 2 6 10 Smirnoff 5,201 3 4 *The brand value of Coca-Cola includes Diet Coke, Coke Light and Coke Zero Source: Millward Brown Optimor (including data from BrandZ, Datamonitor, and Bloomberg) 31 BrandZ Top 100 Most Valuable Global Brands 2009 32
  • 17. SECTORS aPPaREL Value Is Setting the Trend Zara fared better than many of the other apparel apparel brands. It seems its just-in-time # Brand Brand Value Brand Brand Brand Value Spurred on by the credit crunch, shoppers production model, developed to provide fast $M Contribution Momentum Change are in search of value. H&M, the global chain fashion in good times, is well suited to the known for offering high style at low prices, current environment where declining sales 1 H&M 12,061 2 8 8% passed Nike to become the world’s number require closely calibrated inventory control. 2 Nike 11,999 4 7 -4% one apparel brand. In contrast to many of the bricks and mortar 3 Zara 8,609 2 8 -1% The sector has been hit hard, with most stores, online and direct shopping are brands experiencing a drop in brand value. performing well as consumers bargain hunt 4 Esprit 6,571 3 6 -17% Even the most exclusive brands have been from the comfort of their own homes. forced to slash prices to entice customers; 5 Adidas 4,949 3 5 2% Ralph Lauren lost 20 percent of its brand 6 Ralph Lauren 3,031 3 5 -20% value, although the brand held its place in the rankings at number six. Even the most exclusive brands 7 Puma 1,892 3 3 -19% have been forced to slash prices to entice customers 8 Next 1,670 2 9 -39% 9 Gap 1,298 2 3 -9% 10 Old Navy 986 2 5 -7% Source: Millward Brown Optimor (including data from BrandZ, Datamonitor, and Bloomberg) 100% Value 33 BrandZ Top 100 Most Valuable Global Brands 2009 34