DUBAI: Saudi Arabia’s Aramco is the only brand from the Middle East to appear on a top global most-valuable list for 2023.

Marketing data and analytics company Kantar produces the annual BrandZ Most Valuable Global Brands Report 2023, which showed Aramco moving up five places from 16 last year to 11 this year, accompanied by a 7 percent increase in brand value.

The report shows that the total value of the world’s top 100 brands now stands at $6.9 trillion, down from $8.7 trillion in 2022.

Despite a 20 percent drop in the overall index from last year, the Kantar BrandZ Top 100 retains its long-term growth trajectory, posting 47 percent growth compared to the pre-COVID, 2019, level.

“This year’s results — despite the fall in aggregate value — are, in fact, a continuation of the long-term growth trend for brands, which began following the global financial crisis of 2008 and continued up until the start of the pandemic in 2020,” said Martin Guerrieria, head of Kantar BrandZ.

Apple retains its position as the top brand in the ranking with a valuation of $880 billion. The brand has stayed strong in the face of challenging market conditions, “justifying premium prices with positive perceptions, and proving that meaningful, different and salient brands are best placed to weather global economic disruption,” according to Guerrieria. 

Google and Microsoft complete the top three, with technology brands once again dominating the top 100 and commanding the largest share of brand value.

“While the market has proved volatile and been greatly impacted by global macroeconomics, consumers’ view of brands has proved far more stable — the most valuable brands in the world remain as highly regarded as ever,” said Guerrieria.

The top-10 list was dominated by US brands, with only two from outside making the cut: China’s Tencent at seven and French luxury house Louis Vuitton at eight, which rose two places with a brand value of $124.8 billion.

Two new Chinese brands joined the top-100 ranking for the first time: Shein at 70 and Nongfu Spring at 81.

“Those brands consistently investing in establishing strong consumer connections are now much better placed to navigate the current volatile conditions and deliver a greater degree of resilience for their shareholders,” said Guerrieria.

The full ranking can be viewed here: https://www.kantar.com/campaigns/brandz/global