Interbrand to announce best Lankan brands | Daily News

Interbrand to announce best Lankan brands

Interbrand, the world’s largest and most influential brand consultancy, will announce its Best Indian Brands and Best Sri Lankan Brands in March 2019.

The ranking, which identifies the most valuable brands in India and Sri Lanka, is modeled on Interbrand’s prestigious Best Global Brands annual report, the definitive guide to the world’s 100 most valuable brands.

Established in 1974 and an opinion leader in the field of value-based brand management, Interbrand was the first brand consultancy to recognize the significance of a brand as a business asset and introduce the brand valuation concept and methodology. Interbrand’s Best Global Brands methodology valuates each brand’s financial performance, role, and strength through a five-step Economic Value Added methodology, which is also the first of its kind to be ISO certified.

“Interbrand’s ongoing purpose is to enable Sri Lankan businesses to grow to the stature of the Best Global Brands,” said Michel Nugawela, Head of Interbrand’s Sri Lanka office. “Sri Lankan businesses now widely accept the strategic role the brand has on the overall value, perception, and performance of a company. Sri Lankan businesses are also searching for new ways to grow. Globally, Interbrand has played the leading role in instilling confidence among business leaders through its robust value-based methodology which has proven to grow the businesses of the Best Global Brands.”

Interbrand named Bank of Ceylon (1), People’s Bank (2), and Dialog (3) as the three most valuable brands in Sri Lanka for 2017 with Financial Services as the dominant sector. The Top 20 Brands included Commercial Bank (4), HNB (5), NSB (6), Lion (7), Sampath Bank (8), John Keells (9), Elephant House (10), Cargills (11), Sri Lanka Telecom (12), Hayleys (13), Cinnamon (14), Hemas (15), Ceylinco Insurance (16), LB Finance (17), Dilmah (18), Aitken Spence (19) and Rocell (20).

Ashish Mishra, Head of Interbrand’s India office, said, “Interbrand sees strong, respected businesses in Sri Lanka that are now ready for change. Brands are hugely valuable economic assets that thrive on a strategic agenda that directly influences the growth of their businesses.

“In today’s converged markets, a global brand outlook is imperative. Before 2001, the only Asian brands listed on the Best Global Brands table were Japanese and about a decade ago, Samsung entered the listing from South Korea, joined four years later by LG and Hyundai. Interbrand’s larger purpose is to identify the Best Sri Lankan Brands today and in the future, and help them in their journey towards becoming Best Global Brands.”

Interbrand’s compilation of country tables recognize the best brands by country-of-origin. In 2017, Sri Lanka was included in the prestigious listing alongside Best Japan, Best China, Best Korea, Best Swiss, Best German, Best Spanish, Best Canadian, Best Brazilian, Best Mexican and Best Indian Brands.

Mike Rocha, Managing Director, Interbrand Economics and Global Director, Brand Valuation, said, “We run our valuation analysis by assessing each of the shortlisted Sri Lankan brands on 10 factors of ‘Brand Strength’. These include factors internal to the organization, such as clarity and governance, as well as external, customer-related, factors such as authenticity and engagement.

“We also assess ‘Role of Brand’, which is the influence of the brand in driving customer choice, relative to other factors like price, or product specification. Both Role of Brand and Brand Strength are levers to increase brand value, but more importantly, to drive business growth through a stronger brand.”

Methodology

Interbrand Best Sri Lankan Brands is modeled on Interbrand’s Best Global Brands, the most prestigious brand ranking table globally. The Best Global Brands methodology was the first brand valuation method to become ISO certified. The ranking is based on a combination of attributes that contribute to a brand’s cumulative value: •The financial performance of the branded products and services, the role the brand plays in influencing customer choice and•the strength the brand has to command a premium price or secure earnings for the company.

Additionally, country brand tables must meet these criteria:

The brand’s country-of-origin must be Sri Lanka, •there must be substantial publicly available financial data, the brand must have a broad public profile and awareness, or the brand must be positioned to play a significant role in the consumers purchase decision. The economic profit must be positive showing that there is revenue above the company’s operating and financing costs.


 

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