Everyone knows that a brand name is important. Knowing a brand means you're more likely to trust it and choose it. It also means that brand is more likely to be able to charge a higher price.
Brand Finance has released its annual analysis of the top 500 brand values across the world and it's making headlines. According to their analysis, the top five most valuable global brands are: Amazon, Google, Apple, Microsoft and Samsung. Specifically in Europe, two of the biggest brands are Shell and Mercedes.
Looking at some of the fastest growing brand values in the world, Tesla's brand value grew 64.9% to US$12.4 billion, Mitsubishi's brand value grew 42.8% to US$37.7 billion and Lidl's value grew 39.8% to US$12.4 billion.
What about Australia and the ASX?
It was a bad year for telco giant Telstra Corporation Ltd (ASX: TLS). Over the past year the Telstra brand value dropped 24% to US$8.1 billion. The fall was so heavy that it meant another Aussie brand took the top spot. It was ranked 240 out of 500, down from 174.
Supermarket leader Woolworths Group Ltd (ASX: WOW) has risen to the top spot in Australia. Its brand value only grew by 0.6% to also be worth US$8.1 billion that saw it claim the honour. Its sales have held up well despite the tough retail environment in Australia. It was ranked 235, up from 242.
BHP Group Ltd (ASX: BHP) actually saw its brand value drop by 3% to US$5.8 billion because of weakening corporate social responsibility scores. It was ranked 356, down from 344.
There aren't many other Australian brands within the top 500. Commonwealth Bank of Australia (ASX: CBA) was ranked 284 out of 500, down from 259 last year.
Coles Group Limited (ASX: COL) was ranked 400, down from 382 last year.
National Australia Bank Ltd (ASX: NAB) was ranked 435, down from 329.
Finally, Australia and New Zealand Banking Group (ASX: ANZ) was ranked 448, down from 311.
Foolish takeaway
It wasn't a good year for Australia's banks. Indeed, none of Australia's brands truly have global appeal. Perhaps one of our mid-cap growth shares can one day become a globally-recognised name.
