Apple ranks as the No. 1 Best Global Brand for the 11th consecutive year according to consulting firm Interbrand.
Interbrand has unveiled its Best Global Brands 2023 ranking, revealing many of the world’s top 100 brands are in a state of stagnation. The rate of growth in the overall brand value of the table slowed sharply after last year’s significant increase – rising 5.7% this year compared to last year’s 16% increase, taking the total brand value to $3.3 trillion ($3.1 trillion in 2022).
Interbrand cites lack of growth mindset, weaker brand leadership and poor forecasting as behind the slowdown. This follows a longer-term trend in which brands operating exclusively in one sector taking an incremental approach have experienced slower brand value growth.
Airbnb at #46 is the fastest riser in value (+21.8%) despite only entering the table last year.
Gonzalo Brujó, Global CEO of Interbrand, said: “After a few years of strong brand growth, we have entered a period of stagnation, with this year’s table showing moderate growth in overall brand value.
“Businesses which have witnessed a rise in brand value, including Airbnb (#46), LEGO (#59) and Nike (#9) have all transcended their established category norms and play a more significant and meaningful role in society and consumer’s lives.
“As we continue to navigate economic and environmental headwinds, there is a need for improved business cases and better brand management, to drive future investment and sustain growth, within traditional sectors and beyond. Those who can successfully leverage their brand into new consumer pools of potential will reap the rewards of strong brand growth.”
