Top 10 Singapore brands continue to dominate
Brand Finance recently released its fifth annual “Top 100 Singapore Brands” league table showing strong growth from the country’s top brands. The Top 10 Singapore Brands have been valued at 18.01 billion US$ in 2011, storming ahead of the remaining 90 brands featured in the league that has a total combined value of 35.042 billion US$.
Two brands not previously featured in the Brand Finance Top 100 Singapore Brands entered the league in the Top 10. Astra International achieved fourth position and Flextronics squeezed in at number eight. Despite competition from growing brands, the Top Three brands from 2010 held steady, retaining their coveted positions.
Singapore Airlines continues to fly high, taking Top place for the fourth consecutive year, despite moderate brand value increases of just 3% (3.75 billion US$). This compares to an overall average brand value growth of 26.1% amongst the Top 10 brands. Singapore Airlines has a comfortable lead of 656 million US$ over the number two ranked brand, Wilmar International.
The top three risers by brand value growth amongst the Top 10 brands were Great Eastern (83%), UOB (37%) and DBS (34%). This is in line with the general trend around the world of financial brands rebounding after the 2008 crisis. However these three brands have achieved a more marked recovery than their western peers because of their proximity to the major rapidly developing economies.
DBS Bank remained at the number three position, increasing its brand value to 2.10 billion US$, a brand value growth of 34% over 2010. It is building its brand presence in the three key markets of South East Asia, South Asia and Greater China as it seeks to diversify its revenues away from its home market, through a major regional brand campaign. Singtel also kept their number five position with a 25% increase in brand value at 1.35 billion US$.
Overall, the three new brands in the Top 10 had a combined brand value of 4.09 billion US$.
The Top 10 brands added an impressive 30.17% to the combined brand value, with Willmar International contributing the most as the brand value gained 0.60 billion US$.
Similar to other Asian markets, there is also a sharp contrast in the contribution of the Top 10 compared to the next 10 brands (51.4% vs. 19.57%). This clearly indicates the large growth potential available to a majority of the Top 50 Singaporean brands. It also indicates the dominance of the Top 10 and the benefits of robust brand management at the top.