China’s Tencent and Alibaba stayed among the top 10 of the 2018 BrandZ Top 100 Most Valuable Global Brands ranking released by WPP and Kantar Millward Brown on Tuesday.
Tencent rose to No. 5, just ahead of Facebook (No. 6), with a growth of 65% in brand value to $179 billion, up three places from last year.
Alibaba Group jumped from No. 14 in 2017 to No. 9 this year, as the success of Singles Day, its expanding global reach, and Alibaba Pictures Group all contributing to its record brand value growth. The Chinese retail giant’s value growth increased by 92% from last year.
Eight out of the Top 10 are technology or tech-related brands. This category continues to dominate the rankings with Google and Apple retaining the number 1 and 2 spots, growing 23% to $302.1 billion and 28% to $300.6 billion respectively.
“We’ve seen the biggest ever rise in brand value this year, driven by growth across all categories. Both new and established players have seen the payoff in being bold and adopting a long-term outlook towards brand-building,” said David Roth from WPP in a statement.
“Those companies that invest in intelligence-led marketing and back their brands with the power of creativity and ideas will be the winners in today’s world of innovation, disruption and change.”
The BrandZ Global Top 100 brands has an overall total value of $4.4 trillion; up 204% over 12 years since it was first published in 2006. This is also the first year that all categories in the BrandZ Top 100 reported growth.
Trailblazing Chinese brands dominate the Fastest Risers this year, with JD.com reappearing (No. 59) and leading the march following a staggering 94% rise in brand value, bolstered by its entry into new categories such as finance. Another fastest riser was the Chinese liquor brand Moutai (No. 34) who grew by 89%.