Amazon.com Inc. (NASDAQ: AMZN) has consolidated its position as the world’s most valuable brand in 2021, followed by Apple Inc. (NASDAQ: AAPL), according to a global ranking released by Kantar’s BrandZ.
What Happened: The e-commerce company remained the world’s most valuable brand with 64% growth in its brand value to $683.9 billion, while Cupertino-based tech giant Apple was valued at $612 billion. In the process, Amazon and Apple became the first half-a-trillion-dollar brands.
Chinese brands are making their presence increasingly felt, having grown from 11% of the Top 100 value in 2011 to 14% today, as per the report. Tencent Holding Ltd. (OTC: TCEHY) was ranked as the world’s fifth most valuable brand, while Chinese e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) claimed the seventh position.
Electric vehicle maker Tesla Inc. (NASDAQ: TSLA) is the fastest-growing brand and also became the most valuable car brand following a 275% year-on-year growth in its value to $42.6 billion, the report noted.
Why It Matters: The report showed that technology brands continue to dominate the top of the rankings, with seven of the top ten brands from the tech sector.
The total value of the 100 most valuable global brands has grown by 42%, to more than $7 trillion, indicating that these brands have significantly rebounded from the economic impact of the global pandemic.
In particular, Amazon has benefited from amid increased demand for its core services amid the pandemic, including in the e-commerce, cloud, and streaming video-on-demand sectors.
Price Action: Amazon shares closed 0.9% lower in Monday’s trading session at $3453.96, while Apple shares closed 1.4% higher at $132.30.
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