e&, Emirates are UAE's 'most valuable' brands, Al Rajhi Bank leads in Saudi Arabia
Emirates, FAB come in second and third; Al Rajhi Bank tops in Saudi brand power,
Dubai: The tech-telco e& Group and Emirates are the UAE’s ‘most valuable’ brands for 2024, with the Abu Dhabi mega-bank in third spot.
The annual rankings put out by the global marketing services consultancy Kantar assign a dollar value for the kind of influence the brands possess. E&’s brand value is at $7.28 billion while that for Emirates is $6.23 billion.
There were also places for Emaar, ADNOC Distribution, du and ADCB in the Top 10 UAE positions, with Aldar, Emirates NBD and hospital operator Burjeel occupying 8th, 9th and 10th spots.
e& - which has just unveiled a new campaign 'Go for More' campaign featuring likes of Shah Rukh Khan, Jason Statham and Lewis Hamilton - has been working towards expanding its visibility in key overseas markets. In the UAE, it has widened coverage into new consumer- and enterprise-focused spaces, which have proved a boost for top-line numbers.
In Saudi Arabia, Al Rajhi Bank emerged the most influential Saudi brand for the first time. The Kingdom's telecom giant stc and Saudi National Bank followed in second and third spots.
"Over the last five years, the sustained growth achieved by top Saudi and Emirati brands has reached an incredible $47 billion," said Amol Ghate, Managing Director MENAP, Insights Division at Kantar.
"In terms of being ‘meaningful’ and ‘different, these brands have surpassed the global brand average, which is a clear testament to their brand strength.
"Yet, more than 60% of brands in the region still have low meaning amongst their consumers and are not seen as different. Brands that can better understand consumer needs and connect their brands in relevant and unique ways will find growth."
Change at the top in Saudi rankings
Through the last four years, it was the stc that topped the charts. This time, Al Rajhi took over the mantle.
"Considering how many new entrants have crowded into the Saudi telecom industry in recent years creating price wars, retaining a top position is a huge achievement for this powerhouse that continues to reinvigorate and inject new life into its brand," said Kantar.