‘Opportunity and stimulus’ afforded to British brands by Brexit
A survey of the 150 most valuable brands in Britain has painted an optimistic future for them, concluding that Brexit is likely to serve as am ‘opportunity and stimulus’ as an emphasis on buy British continues.
Brand Finance calculated that the total value of the 150 top brands rose by 3% from $327bn to $337bn as of 1 January – amid ongoing political and economic uncertainty relating to Britain’s future relationship with Europe.
The optimism has been fueled by an upward revision in economic growth for 2018-20 to 1.8% together with a recovery in the value of the pound, falling inflation and unemployment and a rise in average wages.
David Haigh, chief executive of Brand Finance remarked: “Project Fear predicted that Brexit would be the end of the world as we know it, with catastrophe for UK businesses and UK brands. It is becoming clear that the UK economy is far more resilient than predicted and that UK brands are responding well to the challenge posed by Brexit.
“Demand is high for British brands, both by B2C consumers, B2B customer trading partners, and as takeover targets. Brexit will only increase this frenetic activity of world-beating UK brands."
This year’s list is dominated by oil giant Shell which has a brand value of $39,423m, close to double the valuation of its next nearest challenger BP on $19.6m. Both oil majors are followed by Vodafone, HSBC and EY which round out the top 5.
By way of comparison Amazon claimed top spot in Brand Finance’s Global 500 with a valuation of $150bn.
Top 10 UK brands
7. Land Rover