July 3, 2017 | 346 words | 1-minute read
2018 report shows Tata brand value rising nine percent from last year to US $14.2 billion
Mumbai: The ‘Tata’ brand continues to be India's most valuable brand according to the annual assessment by Brand Finance, the world’s leading brand valuation and strategy consultancy. The total value of brand ‘Tata’ has surged to $14.2 billion in 2018, surpassing the combined value of the second and third most valued brands in India. The brand value has risen nine percent as compared to last year’s total of $13.1 billion, according to Brand Finance India 100 2018 report.
The US $1 billion increase is the result of strategic restructuring, realignment and rejuvenation undertaken by key Tata companies which include TCS, Tata Motors, Tata Steel and Tata Chemicals as per the report.
Harish Bhat, brand custodian, Tata Sons said,“We are proud to be ranked as India’s most valuable brand and thank Indian consumers for the trust they have placed in our brand. As a values driven organization, the Tata brand represents the trust and leadership we have always prided ourselves on. As we strive to shape the future, we are determined to push ourselves to deliver higher value for all stakeholders.”
David Haigh, chief executive officer, Brand Finance,said, “Under the pragmatic leadership of chairman Natarajan Chandrasekaran, Tata Group is pursuing a consolidated long-term strategy as it ushers in a new era. Chandrasekaran has reviewed the Group’s most senior positions, introduced an experienced team of former bankers tasked with overseeing group finance’s and made tactical leadership changes across the financial services and hotel brands. This year’s success can truly be attributed to a productive first year in office for the new chairman.”
Every year, Brand Finance analyses the value of the world’s biggest brands. Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. A brand’s strength is evaluated through a balanced scorecard of factors such as marketing investment, stakeholder equity, and business performance and used to determine what proportion of a business’s revenue is contributed by the brand.