HDFC Bank Is India’s Most Valuable Brand: Brandz India Top 50 2017
At the occasion of The BrandZ Top 50 Most Valuable Indian Brands 2017, HDFC Bank bags rank #1. With a value of $17,965 million in the current year and a 24 per cent increase since 2013, the bank remains on top of the charts
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HDFC Bank has retained its No.1 position in the BrandZ India Top 50 report of the year 2017. The bank is stated to have doubled its brand value from $9.4 billion to $18 billion since 2014.
The report compiled by Kantar Millward Brown and WPP announced the top brands of the Indian market. The report stated that Airtel, State Bank of India, Asian Paints, ICICI Bank, Kotak Mahindra Bank, Maruti Suzuki, Bajaj Auto, Hero MotoCorp and Axis Bank comprise the rest of the top 10 brands report.
At the launch of the report, David Roth, CEO EMEA and Asia, The Store WPP said, “Indian consumers seek authenticity and value for money and the meaning of those things is being constantly redefined. As consumers become wealthier, they look beyond price to factors like extra features, innovation and a personalized experience. As reflected in this year’s ranking the most agile Indian brands have recognized the complexity in the market and achieved just the right balance between aspirational and affordable.”
Y&R’s and BAV Group’s new research have been incorporated in this year’s report with respect to what it takes to build powerful nation brands. The 2017 Best Countries Report states that India stands out for its history, cultural influence, distinction and reputation for entrepreneurship. Strong relationship between how people perceive a country and how they view the brands associated with it has increased India’s significance on the global power of its brands.
“There are now multiple Indias and consumers continue to love the brands they’ve loved for generations, while equally embracing the brands of the future. Brands must be completely in rhythm with the pulse of the market. Those that can accurately interpret Indian sensibilities, while ensuring smart pricing are likely to be most successful. This is easier for local brands but people relate just as positively to a global brand if it uses insight to understand and meet their needs and communicate in a way that builds trust,” said Vishikh Talwar, MD, Kantar Millward Brown, South Asia while providing an analysis and impact of Indian brands in the world.
The valuation behind the BrandZ Top 50 Most Valuable Indian Brands was conducted by Kantar Millward Brown which specialized in brand equity research and brand valuation. Commissioned by WPP, the ranking combines analysed financial data from Bloomberg and Kantar World panel with the opinions of over a 100,000 Indian consumers since 2007. The eligibility criteria for each brand in the categories met the following: they are consumer facing, the brand are owned by an enterprise listed on a stock exchange in India and bank brands derived at least 25 per cent of the revenue from retail businesses.
Apart from India, BrandZ suite of country rankings and reports also include China, Indonesia, Latin America, Brazil and Saudi Arabia. It is growing to cover Spain, the UK, France, Germany, the US and Italy.