Apple has become the world’s first trillion dollar brand, according to the newly released Kantar BrandZ Most Valuable Global Brands Report 2024.
Holding the No. 1 position for the third consecutive year, Apple is joined at the top of the ranking by Google, Microsoft, Amazon.
According to the report, McDonald has also retained its position in the top five, with its success bolstered by its continued innovation, including its use of artificial intelligence (AI) for scenarios such as dynamic menu boards and order prediction, demonstrating how non-tech brands are also exploring AI to unlock growth. Illustrating the nascent power of AI in everyday life, NVIDIA leaped 18 places to the No.6 position in the 2024 ranking with a brand value increase of 178%. Facebook rejoined the Top 10 after a one-year absence, while Oracle joined the Top 10 for the first time.
This year’s BrandZ ranking underscores the resilience of top brands, with the total brand value of the Global Top 100 rebounding 20% to reach $8.3 trillion, close to the 2022 peak of $8.7 trillion. Since its launch in 2006, the brand value of the Global Top 100 has increased 474%. The threshold to join the Top 100 has increased 354% from $4 billion to $19 billion.
Alongside NVIDIA, AI-titans Adobe and AMD also made gains, securing a spot among the Top 20 Risers with brand value increases of 66% and 53% respectively. Together, with resurgent growth for Instagram, Facebook and Uber, these companies highlight how technological innovations can drive consumer engagement and accelerate growth, the report highlighted.
Throughout the 13 category rankings, notable shifts across various industry sectors spotlight a variety of attributes helping to drive brand equity:
Alcohol: Corona has become the most valuable beer brand. Consistent acceleration of growth globally and tapping into growing markets, like Brazil, China and South Africa while maintaining its stronghold in Mexico have been key factors to its success.
Apparel: Nike has retained its No. 1 brand position in Apparel, but the gap between competitors has narrowed. Zara’s 47% growth made it the second biggest riser in terms of rank change in the Global Top 100, rising 24 places to No. 70. Lululemon’s innovative approach to athleisure and commitment to quality delivered 24% brand value growth, lifting it into the Global Top 100 for the first time.
Luxury: Louis Vuitton remains the most valuable brand in the luxury category with a brand valuation of $130 billion. Hermès has also excelled by enhancing its exclusivity and premium pricing, thriving in both US and Chinese markets, leading to a 23% growth in brand value.
Media and Entertainment: Netflix reached new heights, climbing to No. 4 from No. 6 in the category. Its increase in brand value of 51% was driven by unprecedented subscriber growth, as well as a password sharing crackdown, highlighting the streaming service’s confidence in the strength of its customer predisposition.
Retail: Amazon retains its position as the most valuable retail brand with brand value growth of 6%. Behind this, innovation around product accessibility, as well as pricing sensitivity to changing consumer behaviours delivered strong performances for Lowe’s, Aldi, TJ Maxx, as well as regional ecommerce giants Pinduoduo and Mercado Libre.
