Chinese tech names among the fastest growing valuable brands in the world but Amazon, Apple still dominate
- Tencent was No 5 on the list with a brand valuation of US$241 billion, while e-commerce giant Alibaba fell to seventh with a valuation of US$197 billion
- Of the five brands in the top 100 that more than doubled their value in the past year, four are Chinese companies, alongside Tesla
Tencent Holdings and Alibaba Group Holding are among the top 10 most valuable brands in the world as Chinese consumer internet companies continue to mature despite antitrust scrutiny and intense competition at home.
Kantar, a London-based data and consulting company, published its annual BrandZ report on Monday, evaluating 18,500 brands in 51 markets around the world, ranking the top 100 using a calculation based on the financial value of the parent company and the ability of the brand to grow sales.
The top 100 brands were worth a combined US$7.1 trillion, according to Kantar.
Tencent, owner of Chinese super app WeChat, took fifth spot, up from seventh last year, with a brand valuation of US$241 billion, while e-commerce giant Alibaba (owner of the Post) fell from sixth to seventh with a valuation of US$197 billion.
Amazon retained its position as the world’s top brand with an estimated value of US$684 billion, followed by Apple, Google, and Microsoft, with an estimated value of US$612 billion, US$458 billion, and $410 billion, respectively.
Chinese firms consolidated their presence on the Kantar rankings this year, with 18 brands named to the top 100 brands list, compared with 17 in 2020. Social e-commerce giant Pinduoduo and Tencent-backed real estate platform Ke, also known as Beike, are the two new Chinese names on the list this year.