Amazon stays on top as world’s most valuable brand

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Amazon and Apple are ranked as the world’s most valuable brands, Reuters reported. The ranking is based on Kantar’s BrandZ survey. Still results show that Chinese brands are rising up the leaders list and are more valuable than Europe’s top brands. The e-commerce firm Amazon remained the world's most valuable brand with an estimated value of $684 billion, followed by Apple. The high tech conglomerate is valued at $612 billion and Google at $458 billion ranks third, Kantar said.

Tencent, China's biggest social media and video games company, was the country's top brand, in fifth place worldwide, while Alibaba, was in seventh place.

"Chinese brands are steadily and slowly progressing, and have made significant headway as more companies leverage their own technological developments and demonstrate their abilities to align with the major trends shaping China and the global market," said Graham Staplehurst, global strategy director at Kantar BrandZ.

Five brands more than doubled their value, led by Chinese e-commerce giants Pinduoduo and Meituan, China's top liquor maker Moutai, China's TikTok and US Tesla. The electric carmaker Tesla was the fastest growing brand and became the most valuable car brand, growing its value by 275% on annual basis to $42.6 billion, Kantar said.

China accounted for 14% of the top 100 brands, up from 11% a decade ago, while European brands accounted for 8%, down from 20% a decade ago, Kantar said.

The top European brand was France's Louis Vuitton in 21st place, followed by Germany's SAP software group in 26th place. The only British brand on the list was Vodafone in 60th place.

American brands grew fastest over the past year and American brands accounted for 74% of the top 100, Kantar said. The world's top 100 brands were worth a combined $7.1 trillion, Kantar said.

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