Woolworths has been recognised as the nation’s most valuable brand for 2011, according to an independent report published by the Brand Finance Institute.
With a brand rating of AA and estimated worth of $7.59 billion Woolies was named Australia’s Most Valuable Brand at the Sydney launch of the ISO’s International Standard on Brand Valuation last week.
A Woolworths spokesman said: "It is extremely valuable information for us. It allows us to gauge where we stand in direct opposition to our competitors, but also where we are in relation to big brands nation-wide."
Brand Finance Institute managing director Tim Heberden said the brand valuation process took into account financial performance and brand strength, coupled with visual identity and brand attributes.
“And this is an area where Woolworths has performed strongly,” Heberden said.
In 2008 the company was rebranded with the ‘Fresh Food People’ tag by branding agency Hulsbosch.
Managing and creative director Hans Hulsbosch said the company has forged ahead since the repositioning three years ago.
“Woolworths’ management understands power and value of good design and how it is fundamental to their business success. They lead corporate Australia in using the power of good design to drive growth, customer loyalty and sales,” Hulsbosch said.
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