According to Millward Brown’s 10th annual list of the world’s most valuable brands, Vodafone’s value has grown by 23% to $38.4m since 2010 and is up by 6% on last year. The brand ranks at number 23 on the global list of the 100 most valuable brands.
After launching its 4G service in 2013, the brand expanded its retail footprint last year by adding an additional 150 stores in an effort to catch up with rival EE on the high street.
Shortly after it launched a promotional partnership with Netflix, offering customers a free six-month trial to the movie and TV service in an effort to catch up with its rivals.
More recently, a controversial campaign from the brand featuring fire fighters using Vodafone’s network to contact loved ones was changed after a warning from the Advertising Standards Authority that the ad was misleading, as it claimed that 77% of the emergency services use the brand.
HSBC and Shell are also in the top three for the third consecutive year, although HSBC’s value dropped by 11% year on year to $24m.
Overall brand value slows as Tesco, Dove and M&S drop in ranking
Meanwhile, Tesco has fallen from second to sixth place in BrandZ’s UK list over the last 10 years, with its value dropping by 37% to $9.4m since last year. Its brand value has fallen by two thirds (63%) since 2010.
Dove and Marks & Spencer failed to make it back into the top 10, having dropped out last year. M&S consistently appeared on the list from 2007 to 2013.
Growth in brand value slowed after 2010 according to BrandZ, which shows that while the top 10 brands have seen a 78% increase in value to $149.2bn since 2006, this total has declined by 10% since 2010 and by 4% since last year.