Despite the brand value loss of 20% as recorded in the firm’s case to close at $37.5 Billion, Saudi Aramco has retained the top accolade of being given tagline as “Most Valuable Brand” with its distant rival government owned ADNOC adjudged second most valuable brand within entire Middle Eastern territory, with a brand value of $10.8 billion as per the Brand Finance Global 500 2021 ranking.
Globally, the Apple has snatched and salvaged the top position to be acclaimed as the world’s most valuable brand from Amazon.
Etisalat, the swiftest network globally has become the strongest brand as per Brand Strength Index (BSI) score of 87.4 out of 100 and the only brand within the territory with a AAA brand strength rating overall. At 14%, STC is the territory’s swiftest rising brand.
In the 2021 ranking, overall accounting for 14% of total brand value, tech arena remains most valuable sector in the Brand Finance Global 500. E-commerce brands have prospered in the new normal, with Alibaba.com doubling in brand value, but chain retailers are cash in on home delivery too – with Walmart soaring up to 6th rank.
Ferrari was overtaken by WeChat to become world’s robust brand with a top score of 95.4 out of 100 and AAA+ brand strength rating.
Apple has been named world’s most valuable brand by the ranking as diversification strategy finally paid off (brand value of $263.4 billion), and five years since it last held the top spot, it has snatched it from Amazon.
David Haigh, CEO of Brand Finance, mentioned: “As the UAE approaches its 50th anniversary in December, the nation continues to prosper and showcase its accomplishments in undertaking an inspiring growth trajectory, under the visionary leadership of Sheikh Khalifa bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum and Sheikh Mohammed bin Zayed Al Nahyan. The nation’s world-class brands are helping spearhead global transformation across their respective industries – from Adnoc’s innovation in sustainability, Etisalat’s accomplishment becoming the fastest network globally, DP World’s position as a leader in logistics to Emirates flying the flag – quite literally – the world over.”
Haigh commented: “Aramco is the hidden giant of the oil industry whose brand has finally emerged into the light of public attention. It has always been known as a b2b brand but aspires to become a well-known consumer brand. At present its scale is huge but its brand equity is at an early stage of development. We believe that over the next decade the brand will grow from strength to strength as it enters the world stage.”
He further added that “Recent events have truly demonstrated the nation’s position on the global stage, from its efforts in the face of the pandemic, including international aid to vaccine development, to the historic peace deal with Israel – the UAE is demonstrating that it is a force to be reckoned with. We have seen the transformation from desert to Mars – what will the next 50 years hold?”
Oil and Gas Brands powering the perfect foundation
Despite taping a 20% brand value loss to US$37.5 billion, Saudi Aramco preserves its position as the territory’s most valuable brand in the Brand Finance Global 500 2021 report. Owing to the pure size and scale of the business, as well as its low budget in production, Saudi Aramco has been in a robust position to cope with the outcome from the pandemic than many of its counterparts, but still suffered a substantial hit to profits. While brand value has plummeted, Aramco’s brand intensity has remained constant. Other intangibles such as connections, particularly with the Saudi Arabian government, play a superior role in performance.