With a brand value is $960 million, XXXX is the world’s second fastest growing beer brand, a gain of 37 per cent since last year according to the annual Brand Finance Alcoholic Drinks report.
In a year when the world’s top 50 beer brands lost 16 per cent of cumulative brand value due to COVID-19 pandemic, XXXX went against the grain. As did Belgian beer brand Michelob, outranking XXXX as the fastest growing beer brand and climbing 13 spots in the ranking with brand value growth of 39 per cent to $1.5 billion.
Corona remains the world’s most valuable beer brand, despite recording a 28 per cent drop in brand value to $7.5 billion. It is the bestselling imported drink in the United States, is sold over 120 countries, and has recently become one of the fastest growing grocery products in the United Kingdom.
Brand Finance suggest that the Corona brand has been met with “some hesitancy particularly in the United States, as Americans are hesitant to purchase its products due to its similarity in name to coronaviruses” which may have contributed to its brand value drop.
Spain’s Estrella Damm (brand value US$1.0 billion) was the third fastest growing brand, up 31 per cent.
Richard Haigh, Managing Director, Brand Finance, said, “The pandemic has undoubtedly forced change upon the world’s beer brands, which have grappled with consumers’ significant lifestyle changes brought about by the limitations on social interaction. Brands with a strong existing reputation and good levels of familiarity amongst consumers are those most primed to weather the storm.”
The report ranks Diageo’s Don Julio as the strongest spirits brand and Moët et Chandon has retained the title of the world’s most valuable champagne and wine brand for the second consecutive year.
Brand Finance puts 5,000 of the biggest brands to the test each year, evaluating their strength and quantifying their value. ‘Brand value’ is defined as “the net economic benefit that a brand owner would achieve by licensing the brand in the open market” while “Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors”.