Woolworths ends Telstra’s reign as the most valuable brand

Mariam Cheik-Hussein
By Mariam Cheik-Hussein | 24 January 2020
 
Image source: Wikimedia Commons.

Woolworths is Australia’s most valuable brand, overtaking Telstra to reclaim the top spot, according to Brand Finance.

The brand valuation consualancy’s latest report shows the supermarket increased its brand value by 5% to $11.8 billion.

Telstra, which previously held the top spot for four years, fell by 20% to second spot, valued at $11.7 billion.

It’s followed by Commonwealth Bank, down by 3% to $10.2 billion, BHP, up by 1% to $8.4 billion and Coles, up by 0.2% to $7.5 billion.

Despite Commonwealth Bank making the top five, banking brands’ valuation have dropped overall.

NAB fell by 19%, ANZ by 25% and Westpac, recently hit by the money laundering scandal, by 21%.

Mark Crowe, Brand Finance Australia managing director, says the market is “decreasingly optimistic”.

“Many of the country’s biggest consumer brands are suffering,” Crowe says.

“Household names, Woolworths and Coles, are bucking the trend, supported by their long-standing position in the marketplace.

“Woolworths is facing a difficult year ahead after the damaging investigation into staff’s pay - how the brand responds in the coming year will be pivotal if it is to retain its title of the most valuable Australian brand.”

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