MAM
Brand-building for longevity and future growth becomes major focus for top brands in Brand Top 75 Most Valuable Indian Brands ranking
MUMBAI:–India’s most valuable brands, many of which have built their businessesthrough disruption, are now looking to capitalise on their achievements and invest in strategies for long-termgrowthand stability.This is a key finding of the sixth BrandZ™ Top 75 Most Valuable Indian Brands ranking, released today by WPP and Kantar. This year’s results revealed a 6 per cent rise in overall brand value to $228.2 billion, a moderate pace compared to previous years, given India’s recent macroeconomic challenges. Despite that, such growth is still in line with that of the BrandZ Top 100 Most Valuable Global brands, as India steadily rises in global economic rankings.
HDFC Bank, now ranked No. 1 for a sixth consecutive year,has demonstrated the rewards of maintaining a forward-thinking and innovative outlook,withits consistent focus on exceeding the changing needs of its customers. With new financial products, an ongoing drivetowards digital banking and new branches set-up throughout the country, the bankgrew 5 per cent in brand value to $22.7 billion. This is a positive contrast to the 8 per cent decline in value of the top 20 global banks .
The BrandZ study, which is the only brand valuation ranking to combine companies’ financial data with consumer insight and opinion, shows that trust is key to develop the stabilityrequired for long-term success; highly trusted brands in the Top 75 are worth 129 per cent more than less trusted ones.
Trusted brands include many of the consumer-facing technology platforms and service providers. Despite owing their success to disruptive beginnings, these brands now also focus on activities to build trust such as ongoing and effective communications with consumers that generate comfort and familiarity with using the brand. With a 30 per cent increase in value, this sector was the fastest growing group of brands in the ranking.
Notable brands include ecommerce site Flipkart (No. 12), which increased its brand value 14per cent to $4.7 billion, while unicorn brands hotel booking site Oyo($2.0 billion), online food ordering service Swiggy ($1.6 billion) and online restaurant marketplace Zomato ($1.0 billion) are newcomers to the ranking at No.30, No. 39 and No. 61 respectively.
The fastest riser in the 2019 ranking is telecom provider, Jio, which climbed one place to No. 9 with a 34per cent increase in brand value to $5.5 billion.Itsdisruptive business model has made internet access available to many Indianswho were previously unable to afford it, thereby opening up access to digital platforms and services.Vodafone ($2.5 billion) meanwhile was the top-ranked newcomer at No. 24.
Both digital and offlinebrandssuch as D-Mart (No. 25, $2.4 billion) have found success as a result of the rise of ‘middle India’; the growing number of people in the country’s second, third and fourth-tier cities and towns that are changing India’s traditional urban-rural divide. These previously poorly-served segments increasingly have access to a variety of online services, with Swiggy and Zomatobuilding much of their growth on this shift.
With an expanding choice of offerings to buy, Indian consumers increasingly care more about the quality of service than whether a brand originates in India, as long asit demonstrates that it understands what it means to be Indian. That insight is reflected in the decision by Amazon to launch itself a year ago as India’s ‘neighbourhood shop’.
David Roth, CEO of The Store WPP EMEA and Asia and Chairman of BrandZ, says:“As India flexes its muscles on the world stage, it faces increased macroeconomic headwinds which have combined with a rise in global trade tensions to create a challenging environment.Successful Indian brands are adapting to these challenges andrecognising that longevity requires them to do more than just disrupt the status quo; long-term brand building requires new strategies that major on stability.”
BrandZ Top 10 Most Valuable Indian Brands 2019
Preeti Reddy, CEO South Asia, Insights Division, Kantar says “Consumer trust is a common thread among successful brands. However, it is concerning that only a few have succeeded in growing trust over the last five years. Those who done so, have done it through open and honest conversations with their customers. Brands would do well to consciously work at building consumer trust – it is the shield that gives a brand the resilience to face headwinds in uncertain times.”
Vishikh Talwar, chief client officer, Kantar Insights Division, says: “The rise of ‘middle India’ combined with rapid growth of the mobile internet is providing unprecedented opportunities for brands. But, with an almost overwhelming choice of products and servicesto buy, consumers are increasingly discerning; the Indian psyche requires that brands cater for local needs with offerings that genuinely improve daily life. Today that’s as much about providing comfort and reliability as it is about generating new experiences.”
In general, India’s top brands are taking a long-term approach to value creation. Over the past five years, a stock portfolio containing the BrandZ™ India Top 75 Most Valuable Indian Brands would have increased 33.8per cent in value. This compares to a rise of just 12.4per cent for India’s SENSEX, an index of 30 stocks on the Bombay Stock Exchange, demonstrating that valuable brands generate superior shareholder value.
Key trends highlighted in the BrandZ Indian Top 75 study include:
Mobile internet access: Smartphone user numbers in India increased by 18per cent in 2018 (the fastest rate of growth in the world), mainly due to a combination of Jio’s own low tariffs and the renewed competition causing other telecom providers to reduce their rates.
Buying power:Retail is the second fastest growing category, with online and offline both growing strongly. New entrantReliance Retail (No. 55, $1.1 billion)opened nearly 500 new stores and usedJio’s service to connect retail shops with grocery deliveries, while D-Mart ($2.4 billion) focused predominantly on offline, rising two places to No. 25.
The Amazon effect:Amazon and Flipkart compete with many Indian brands across several sectors, with Amazon also opening its largest campus yet in India. This has increased competition and driven brands to step up their operations to ensure they are meeting customers’ needs.
A confident country: The success of unicorn brands such as Swiggy, Zomato and Oyo is fostering a new-found confidence in India. This is augmented with the increasingly global outlook of these new brands as they actively seek to expand their operations outside India.
Brands
Adobe CEO Shantanu Narayen to step down after 18 years in role
Board begins CEO search as Narayen prepares to move to chair role
SAN JOSE: After nearly two decades at the helm, Adobe’s long-serving chief executive Shantanu Narayen is preparing to pass the baton.
The company announced that Narayen will transition from his role as chief executive officer once a successor is appointed, ending an 18-year run that reshaped Adobe from a boxed software seller into a global cloud and AI powerhouse. He will remain chair of the board following the leadership transition.
Adobe’s board has formed a special committee to oversee the succession process, led by lead independent director Frank Calderoni. The committee will evaluate both internal and external candidates.
“Shantanu’s leadership has been instrumental in Adobe’s transformation and in positioning the company for the AI-driven era,” Calderoni said in a statement. “As we begin the next phase of succession planning, our focus is on identifying the right leader for the company’s next chapter while ensuring a smooth transition.”
In a note to employees, Narayen described the moment not as a farewell but as a pause for reflection after a long journey with the company.
“I love Adobe and the privilege of leading it has been the greatest honour of my career,” he wrote, adding that he will continue to work closely with the board over the coming months to ensure a seamless leadership change.
Tributes from the technology industry quickly followed the announcement. Microsoft chairman and chief executive officer Satya Nadella congratulated Narayen on what he described as a “legendary run” at Adobe.
“Congrats Shantanu, on a legendary run at Adobe! You’ve built one of the most important software companies in the world, and expanded what’s possible for creators, entrepreneurs, and brands everywhere,” Nadella wrote on LinkedIn.
“What has always stood out to me is the empathy you’ve brought to the creative process and the example you’ve set as a leader. Grateful for your friendship, mentorship, and for all you’ve done for Adobe and for our industry.”
Narayen’s career at Adobe spans nearly three decades. He joined the company in 1998 as vice president and rose steadily through the ranks before becoming chief executive officer in December 2007.
During that time, he orchestrated one of the most significant reinventions in the software industry. In 2013, Adobe made the bold decision to abandon traditional boxed software sales and move its flagship creative tools such as Photoshop to a subscription-based Creative Cloud model. The shift initially rattled investors but ultimately transformed Adobe into a predictable recurring revenue business and a case study in digital reinvention.
Narayen also pushed Adobe beyond creative tools into the world of marketing technology and data-driven customer experience, spearheading acquisitions such as Omniture and Marketo. Those moves helped build Adobe’s digital experience division and broaden its reach far beyond designers and photographers.
The numbers tell the story of that transformation. When Narayen took over in 2007, Adobe generated roughly $3 billion in annual revenue. Today the company reports more than $25 billion. Over the same period, its workforce expanded from around 3,000 employees to more than 30,000.
In recent years, Narayen has steered Adobe into the generative AI era with the launch of Adobe Firefly, aiming to keep the company ahead in a rapidly evolving creative technology landscape.
Born in Hyderabad in 1963, Narayen studied electronics and communication engineering at Osmania University before moving to the United States for a master’s degree in computer science from Bowling Green State University. He later earned an MBA from the Haas School of Business at the University of California, Berkeley.
Widely regarded as one of Silicon Valley’s most steady and effective leaders, Narayen has earned multiple honours during his career, including India’s Padma Shri in 2019.
For Adobe, the upcoming leadership change marks the end of a defining chapter. For Narayen, however, the story is far from finished. As he told employees, the company’s next era of creativity, powered by AI and new digital workflows, is only just beginning.
