The ranking – which will identify the best performing Sri Lankan brands – is modeled on Interbrand’s prestigious annual Best Global Brands report, the definitive guide to the world’s 100 most valuable brands.
To maintain reputational integrity and avoid any conflicts of interest, Interbrand does not levy or accept payments to list brands in its table. It also does not accept sponsors.
Ashish Mishra said this was a highly irregular practice that was not found anywhere in the world.
Established in 1974 and an opinion leader in the field of value-based brand management, Interbrand was the first brand consultancy to recognize the significance of a brand as a business asset and introduce the brand valuation concept.
Interbrand’s Best Global Brands methodology valuates each brand’s financial performance, role, and strength through a five-step Economic Value Added methodology which is also the first of its kind to be ISO certified.
In a statement welcoming the introduction of the ranking table to Sri Lanka, Mike Rocha, Interbrand’s Global Director, Brand Valuation, Interbrand London, said, “Interbrand believes strong brands enhance business through their influence on customers, employees, and investors; they influence customer choice and create loyalty; attract, retain, and motivate talent; and lower the cost of financing.
Interbrand’s brand valuation methodology has been specifically designed to take all of these stakeholders and value-creation levers into account.
Role of Brand analysis is about understanding purchase behaviour: the brand’s influence on the generation of demand through choice.
Brand Strength measures the ability of the brand to create continuity of demand into the future through loyalty and therefore, to reduce risk. In doing this it considers ‘internal’ factors – the management and employees – and external factors – the customers.
Finally these inputs are combined with a financial model of the business to measure the brand’s ability to create economic value for its owner.”
Addressing the media conference held in Colombo, Ashish Mishra, Managing Director, Interbrand India, stated, “Interbrand sees strong, respected businesses in Sri Lanka that are now ready for change.
Brands are intangible assets, but they are hugely valuable economic assets that thrive on a strategic agenda that directly influences the growth of their businesses.
These are the important discussions Interbrand wants to have in Sri Lanka so that brands can experience growth on both a domestic and global scale.”
Mishra also emphasized the need for Sri Lankan brands to evolve beyond borders, their industries and geographies:
“In today’s converged markets, a global brand outlook is not just a matter of aspiration but an imperative.
Before 2001, the only Asian brands listed on the Best Global Brands table were Japanese and about a decade ago, Samsung entered the listing from South Korea, joined four years later by LG and Hyundai.
Interbrand’s larger purpose is to identify the Best Sri Lankan Brands today and in the future, and help them in their journey towards becoming Best Global Brands.”
Michel Nugawela, CEO, MND and Sri Lanka partner for Interbrand said, “For the past 15 years, MND has been working to raise the bar of Sri Lankan brand management practices.
I’m therefore extremely pleased that we can today announce the introduction of Best Sri Lankan Brands.
Interbrand’s brand valuation methodology is the most rigorous and respected formula in the world; it is the global benchmark and we look forward to beginning conversations with business leaders on the value and role of the brand to directly influence the growth of their businesses, and celebrate the most valuable Sri Lankan brands every year.”
Interbrand first entered the Sri Lankan market in 2016 with the rebranding of Hatton National Bank together with Sri Lankan partner MND.
Interbrand’s impressive portfolio of clients include brand leaders in every industry, category and segment including HSBC, American Express, Credit Suisse, Barclays, Swiss Re, Allstate, and Bank of America in financial services; GE, Shell, IBM, KPMG and Godrej in diversified sectors; FedEx, UPS, DHL, British Airways, KLM, Thai, Iberia, Lufthansa, Singapore Airlines and Maersk in logistics and transportation; Unilever, P&G, Nestle, Kraft, Nivea, Knorr and Wrigley in CPG/FMCG; FIFA, Rugby Football Union, Ryder Cup, USGA and Sochi Olympics in sport branding; Gucci, Prada, Rolls Royce, Cartier, Piaget, Hugo Boss, Bulgari and Remy Martin in the luxury segment; as well as cities, regions and nations such as Edinburgh, Johannesburg, Monitoba, South Korea, Holland and Chile. Interbrand also created the first Korean Top 100 brand, Samsung, by introducing the brand value concept to the conglomerate and propelling it to the 7th most valuable brand ranking in the Best Global Brands table, worth over $45bn in 2015.
Sri Lankan partner MND specialize in brand strategy, brand architecture, brand identity and change management solutions across multiple industries, categories and segments.
MND has branded and repositioned many of Sri Lanka’s most iconic and respected brands, including Aitken Spence, Elephant House, Lion Lager, Ceylinco Life, and Goodhope among others.
Pictured : Rajiv Meewakkala - Partner, MND, Nilmini Jayasinghe , Partner, MND, Ashish Mishra - Managing Director, Interbrand India, Michel Nugawela - CEO, MND, Anusha David - Chairman, MND and Prasanna Amerasinghe - Partner, MND , Nilmini Jayasinghe - Partner, MND