New Delhi: Tata, Reliance and Airtel emerged as the top three Indian brands of 2019, according a report published by Interbrand, part of the Omnicom Media Group, an advertising and public relations conglomerate.
Tata continued to hold the top position in the best Indian Brands ranking as its brand value grew by 6%, mainly due to Tata Consultancy Services (TCS). Knocking its competitor Airtel off from the second spot, Reliance’s brand value grew by 12%, bolstered by the success of Jio. This also explains the 13% degrowth in Airtel’s brand value. Following Airtel at number three, HDFC Bank, LIC, State Bank of India, Infosys, Mahindra, ICICI Bank and Godrej rounded off the top 10 list.
The Interbrand’s annual ranking is based on three key components — financial performance, the brand’s role in influencing customer choice and strength, and the premium price that the brand commands. The combined value of the top 40 brands stood at ₹50.03 billion in 2018, a 5.2% growth over the previous year. Financial services and automobile contributed the most to the year’s Top 40, with 27% and 10% growth in brand value, respectively.
In its sixth year, the Best Indian Brands ranking saw retail making its presence felt. Kishore Biyani-owned Big Bazaar grabbed the 33rd spot with ₹26.86 billion, along with supermarket chain DMart at 37 with ₹20.15 billion. Along with Big Bazaar and DMart, Nerolac Paints, which came in at 39 with a brand value of ₹19.19 billion, were the three new entrants in this year’s ranking.
Automobile sector grew at an average 16% with brands such as Royal Enfield, Bajaj Auto, Ashok Leyland, Hero, Maruti Suzuki and Mahindra demonstrating a higher than average growth.
Tata’s jewellery and accessory brand Tanishq, motorbike brand Royal Enfield, Kotak, Bajaj Auto, Ashok Leyland and Britannia were amongst the fastest-growing brands. Meanwhile, Reliance Group and Canara Bank exited this year’s list.
“Many brands that are creating value are actually reinventing the category. The best example of a global brand is Amazon and the local counterpart is Jio, which has enabled digital life in the country,” according to Ashish Mishra, managing director, Interbrand India.
While the luxury sector registered a 42% growth in brand value, Mishra said many brands outside the luxury category were adopting the luxury mindset. “They offer personalised experiences to customers, excellence in craftsmanship and community. Automobile brands have improved their dealerships and introduced innovations. In the retail sector, a brand like Big Bazaar has adopted a luxury mindset by changing its design language and store formats,” he added.