The world’s largest media communication group WPP released the BrandZ Top 100 Most Valuable Global Brands of 2017 in London, UK this week. HUAWEI saw an increase of its brand value to $20.388 billion and ranked the 49th on the list, placing HUAWEI in the top 50 for the second consecutive year.
The list of BrandZ™ Top 100 Most Valuable Global Brands, jointly launched by WPP and market research institute Kantar Millward Brown, has become one of the most recognised brand value lists of the world. 2017 marks the 12th year of the release of the list, which is generated after extensive research of the value of the brands and a broad collection of feedbacks from over 3 million consumers.
This year, the total brand value of the 100 brands on the list grew by 8% to $3.64 trillion, and 9 brands were valued over $100 billion, three more than last year. Technology industry maintains the lead with Google, Apple and Microsoft taking the first three slots, followed by Amazon and Facebook.
Chinese companies show strong growth, especially so with the technology brands who are gaining increasing awareness in the world. Tencent, Alibaba, Baidu and HUAWEI all made the list. According to the analysis from BrandZ, the burst of technology brands from China in the list shows that the recognition of consumers worldwide of Chinese brands is changing. It is the third consecutive time for HUAWEI making the BrandZ list, with growing brand value and higher rankings on the list, thanks to HUAWEI’s expanding brand impact worldwide in recent years.
HUAWEI was one of the first Chinese companies to go abroad and achieved breakthroughs in many regions of the world. In particular, HUAWEI’s consumer business has been leapfrogging in Europe, a highland of major brands. According to statistics from GfK, HUAWEI’s smartphones received a market share of over 15% and 10% respectively in Northeast Europe and West Europe. In certain parts of North Europe, HUAWEI smartphones are extremely popular and claiming leading market share. As HUAWEI’s flagship models, the HUAWEI P9 and HUAWEI Mate 9, are making heated sales worldwide, HUAWEI starts to gain a solid position in the middle to premium segment as well as a more powerful brand impact as a global premium brand.
In terms of brand development, HUAWEI has zoomed in on the most premium international marketing efforts and invited a number of stars with international influence to endorse its brand, such as hiring the football player Messi as its brand ambassador, and Hollywood star Henry Cavill and Scarlett Johansson as the HUAWEI P9 spokespersons. HUAWEI also launched joint campaigns with global fashion platform VOGUE magazine and multiple fashion weeks in order to add more design, artistic, cultural and fashionable elements to the brand and support HUAWEI’s effort to transmit its brand message to consumers worldwide. HUAWEI’s brand impact and recognition are acknowledged by multiple authoritative agencies, which made it into several prestigious brand value rankings. In the 2017 Most Valuable Brands list released by Forbes recently, HUAWEI was the only Chinese brand on the list.
BrandZ also pointed out in its report that as Chinese brands speed up their overseas expansion, their image in the eyes of global consumers will keep transforming. For Chinese brands to win the recognition and heart of more global consumers, they need to take further steps to expand the overseas market and build their brands.