Amazon takes on the $200 billion challenge and beats it. The e-retailer's brand value is now pegged at $220 billion. File picture of the Amazon office in New York. Image Credit: AP

Dubai: Amazon remains the world’s most valuable brand for a third consecutive year - but this time it’s brand value has crossed the “so far unattainable” $200 billion mark.

Among Middle East brands, Etisalat also scored a hat-trick as the most valuable business-to-consumer label. It was also the “strongest” telecom brand in the region, according to the “Brand Finance Global 500” report.

But Saudi Aramco, propelled by its gigantic IPO, was the region’s most valuable brand from a business-to-business perspective. “With a brand value of $46.8 billion, Saudi Aramco is the most valuable among the 44 new entrants in the ranking,” the report says.

“The IPO has proven to be successful for the brand as Saudi Aramco raised US$25.6 billion, making it the largest ever to date. Even after navigating through recent attacks on two of its oil processing sites, it is now the world’s most valuable listed company, comfortably ahead of tech titans Apple and Microsoft.”

Enduring brand power

But when it comes to staying prowess, it’s Amazon all the way. Its brand value was up 18 per cent on the $187.9 billion last year - and the $220.8 billion places it $60 billion over Google and $80 billion beyond Apple’s reach.

“The disrupter of the entire retail ecosystem, the brand that boasts the highest brand value ever, Amazon continues to impress across imperishable consumer truths: value, convenience, and choice,” said David Haigh, CEO of Brand Finance. “Today, Amazon’s situation seems more than comfortable - but what will the Roaring ‘20’s hold in store?”

Adnoc makes a statement

Abu Dhabi National Oil Company also became the first UAE brand to gain a valuation of more than $10 billion, which was enough to also make it the Middle East’s fastest growing brand

According to Haigh, “The Middle East, and in particular the Gulf, is home to more and more world class brands, as we have observed these powerhouses making their way up our rankings since Brand Finance undertook its first Global 500 study back in 2007.”

Ferrari’s strength

For the second year running, Ferrari held on to the title of “world’s strongest brand” with a Brand Strength Index (BSI) score of 94.1 out of 100. This is based on the relative strength of brands through evaluating marketing investment, stakeholder equity, and business performance. Ferrari is the strongest of “only” 12 brands in the Brand Finance Global 500 2020 ranking to be awarded the AAA+ rating.