Flipkart, Rivigo, Paperboat among Interbrand Global’s Breakthrough Brands
Interbrand has released its second annual Interbrand Breakthrough Brands report in partnership with Facebook, New York Stock Exchange (NYSE) and Ready Set Rocket. The 2017 report recognises 40 next-generation, disruptive brands that define progress and the potential to grow. The report complements Interbrand’s annual Best Global Brands report, now entering its 18th year, by putting a spotlight on emerging brands – those that are affecting change and embodying growth.
After analysing over 350 submissions from global influencers and open public submissions, 40 brands were selected as this year’s Breakthrough Brands; amongst which India’s start-up poster-brand Flipkart and technology-enabled logistics start-up Rivigo have also been featured. Paperboat by Hector Beverages has also been mentioned as one of the exemplified brands for appealing the rising middle class consumer in the APAC countries; by prioritising craftsmanship and personalisation, with an authentic and differentiated story.
“There are moments throughout the life of your business when you enter a new stage of growth,” said Jez Frampton, Interbrand’s Global CEO. “For Breakthrough Brands, it’s realising there’s a gap or a need in the marketplace, and filling it. These brands are catalysts as they are not just setting new standards for other brands, they’re breaking them.”
As per the report, Flipkart has a staggering valuation of $11,600 million and a funding of $4,550 million. The Bangalore-based brand has become a hallmark of growth in Asia. It has changed the e-tail landscape in India, providing access to goods in both urban and rural communities at prices that were once unimaginable. Flipkart is also investing in payment and retail tech across the continent, making it one of the region’s biggest Breakthrough catalysts. Recently receiving $1.4 billion in funding, the brand is set to break through globally.
On the other hand, Rivigo has been valued at $1,880 million and its funding is recorded at $114.9 million. According to the report, Rivigo isn’t just about logistics: it’s about people. The India-based brand improves the working lives of the humans behind its delivery fleets by using big data, IoT sensors, and AI to monitor and manage driver stress and fatigue. With a team of top data scientists, Rivigo is creating systems that increase distance covered and improve turnaround times up to 70 per cent – driving productivity for both its people and its clients.
This year’s report divides the Breakthrough Brands into seven key insights:
The working future: An increased focus on individuals and what they need to be fulfilled within their careers and their lives, especially as they become increasingly intertwined, such as Rivigo, Slack and General Assembly.
From lifehacking to better living: Brands that are looking to improve our lives by removing concerns, obstacles, and unnecessary interactions. The good life is not about more, but better; Thrive Global and Sea for example.
Not so artificial intelligence: Brands that are leading this charge – by both creating and harnessing these new tools – are going to dictate the future with this breakthrough technology; like Face++ and Clarifai.
Meaningful mobility: It’s not about the journey or the destination, it’s about fundamentally changing how we move people and things, with the aim of improving our environment, society, and lives through brands like Didi and Ofo.
Funding change: The focus in finance is truly personal, as brands find breakthrough ways to align with individuals’ values, and empower people to take greater control of their financial futures with brands like Square and Wealthsimple.
Experiences on demand: Some brands make it easier to get what we want, others make it easier to find what we want, but all are helping us live an on-demand lifestyle, which is what brands like MikMak and Flipkart look to do.
Health in your hands: By leveraging tech innovation and pooling huge, previously unmanageable amounts of information, these new brands are improving the entire spectrum of care like Babylon and HumanCharger.
Criteria & Methodology
When selecting the brands to be featured in this report, these criteria were key:
Age: Is the brand 10 years or younger?
Change: Is the brand driving change by responding to a unique marketplace need, generating a new experience for consumers, disrupting an industry, adopting a new business model or developing a new technology?
Growth: Is the brand demonstrating its ability to grow? Is it operating as a successful business? Is it stretching into new product or service categories – or new geographies? Is it attracting top talent?
Buzz: Is the brand grabbing attention and gaining momentum?
Originality: Is the brand presenting a unique business model that challenges the traditional way of doing things?
Commenting on the Indian contenders and the overall Breakthrough Brands in the local market, Ashish Mishra, Managing Director, Interbrand India, said, “India is emerging as a crucible for the Breakthrough Brands due to our demographic, social, expressive & experiential evolution leading to cross fertilisation of new consumers, markets, lifestyles and touch points. There is a genuine need of improving lives across business and life-critical areas of money & mobility on one hand, health & lifestyle on another. The other big phenomenon is the merging of the breakthrough mindset with traditional organisations. We are seeing many traditional companies spawning breakthrough businesses within their folds. Indeed, it’s no longer about start-ups anymore but about inculcating the breakthrough mindset no matter what you do and who you are.”