Vodafone tops most valuable brand list
Vodafone has toppled HSBC off the top spot in the annual Brand Finance list of the most valuable brands of British origin.
The telecoms company saw its brand value jump 15% to £19bn this year with Brand Finance saying the brand value contributes 16% of the company’s total value.
However, Brand Finance chief David Haigh points out that it’s the telecom company’s performance in overseas markets that has delivered growth. It is overshadowed by market leader O2 in the UK and the market faces upheaval from the merged T-Mobile and Orange operation Everything, Everywhere.
Vodafone has just reported a 1.1% rise in group revenues for the first quarter, helped by its recent restructuring. However, some of this is attributable to a cost-cutting programme that saw, among other measures, the shedding of 10% of its marketers.
HSBC recorded a rise in brand value of £18.7bn but still slipped to second place in the table. Banks put in a strong showing on the list with five of the six featured demonstrating a rise in brand value. Only Lloyds TSB saw a drop, falling to £1.7bn and six places to 33.
To see our cover story and top brands table click here
