Advertise with fastmoving.co.za
 
 

Amazon has leapfrogged Google and Apple to become the world’s most valuable brand after seeing its value increase by 42 percent last year.
Amazon has leapfrogged Google and Apple to become the world’s most valuable brand after seeing its value increase by 42 percent last year.

Amazon overtakes Google and Apple to become world's most valuable brand

INTERNATIONAL NEWS

By Elias Jashan - Feb 9th, 10:44

Amazon has leapfrogged Google and Apple to become the world’s most valuable brand after seeing its value increase by 42 percent last year. 

According to the latest Brand Finance Global 500 report, the retail and technology behemoth is now valued at $150.8 billion (£108.6 billion), hence moving up two spots from 3rd last year.

Now also the world’s largest internet business by both market capitalisation and revenue, Amazon has come a long way since its humble beginnings as an online bookstore.

In recent years it has expanded into artificial intelligence technologies, music, video streaming and the $13.7 billion (£10.7 billion) acquisition of Whole Foods – which paved the way for its entry into bricks-and-mortar retail.

The Seattle-based business is now looking to expand into healthcare and speculation is rife that it could acquire a bank this year.

“[Amazon boss] Jeff Bezos once said that ‘brands are more important online than they are in the physical world’,” Brand Finance chief executive David Haigh said.

“He has proved himself right by choosing the name Amazon, known as the largest, most powerful river in the world, as 23 years later the Amazon brand carries all before it as an unstoppable force."

“The strength and value of the Amazon brand gives it stakeholder permission to extend relentlessly into new sectors and geographies."

“All evidence suggests that the amazing Amazon brand is going to continue growing indefinitely and exponentially.”

For the first time since the Brand Finance Global 500 was established, technology brands claim all top five rankings, with Apple in 2nd, Google in 3rd, Samsung 4th and Facebook in 5th.

The only other retailer to have made the top 10 is Asda’s American parent company Walmart, which came in at 9th with a value of $61.4 billion (£44.1 billion).

Chinese online retailer Alibaba is also the only other retailer in top 20, with a value of $54.9 billion (£39.4 billion) after growing 58 percent year-on-year.
Retail Gazette 

Read more about: jeff bezos | google | brand finance | apple | amazon

Related News

Google tipped to open first permanent retail store
20/08/2018 - 11:42
Google is understood to be planning to open its first permanent standalone retail store in the US to sell its growing range of products.

Amazon rules the retail world by closing a deal better than its rivals can
15/08/2018 - 11:16
What matters most to web retailers are three things: traffic, engagement and conversion.

Sainsbury’s to trial cashierless SmartShop technology
14/08/2018 - 11:28
Sainsbury’s is set to become the latest big-name retailer to trial cashierless technology in its stores, with a view to extending its roll out.

Amazon's youthful units drive profit to double analysts' estimates
27/07/2018 - 12:43
Amazon.com forecast strong northern hemisphere autumn sales and posted a profit that was double Wall Street targets thanks to the retailer’s younger, higher-earning businesses, including cloud computing and advertising.

Amazon rivals Walmart and Microsoft join forces in cloud partnership
17/07/2018 - 11:05
Retail giant Walmart said it entered into a strategic partnership with Microsoft for wider use of cloud and artificial intelligence technology, in a sign of major rivals of Amazon.com coming together.