Paytm, Zomato in Interbrand’s inaugural Breakthrough Brands report
Interbrand has launched the inaugural Interbrand Breakthrough Brands report, in partnership with Facebook, Ready Set Rocket, and the New York Stock Exchange (NYSE). The Interbrand Breakthrough Brands report, entitled ‘Future Growth’, is unique in that it examines emerging companies that are brand-led organisations that have both unique business model or idea and a strong brand. The report is meant to complement Interbrand’s annual Best Global Brands report, now entering its 17th year, by putting a spotlight on emerging brands, especially those that are affecting change and embodying growth.
“While it is certainly true that exciting startups abound, Interbrand and its partners have decided to put a spotlight on those organisations that have strong business models and strong brands,” noted Interbrand’s Global CEO, Jez Frampton. “From their earliest days, these Breakthrough Brands have been focused on managing their brands and delivering integrated experiences to their customers. We believe such efforts leave them well-poised to achieve significant growth in the months and years ahead.”
A set of approximately 200 brands were nominated by a global network of key influencers – individuals chosen by Interbrand, Facebook, NYSE and Ready Set Rocket because of their strong commitment to (and interest in) emerging brands.
Criteria & Methodology
When selecting the brands to be featured in this report, these criteria were held paramount:
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? Is it stretching into new geographies? Is it attracting top talent?
Buzz: Is the brand grabbing attention & gaining momentum?
Of the 200 brands nominated, 60 ended up being featured in the Interbrand Breakthrough Brands report. They are not ranked, but rather grouped against 10 insights, three sector-specific categories and two additional categories (Innovation Incubators & Ones to Watch).
India- founded Zomato has been featured in the Food and Beverage category along with Deliveroo from the UK, Blue Apron from the US and do dem from Brazil. Zomato’s mission is to facilitate better dining experiences for food seekers all over the world. Founded in 2008, this brand’s food discovery platform is now a part of India’s biggest personal assistant app, HelpChat, which will be able to anticipate users’ food-related desires. Zomato also offers online ordering and table reservations, as well as tools that allow restaurants to manage demands, thus creating better food experiences for both its users and one million restaurants partners worldwide.
Also, PayTM has been featured in the ‘Growing global’ category. This category celebrates the brands that have created a unique, differentiated approach which is global from day one. Breaking ground fast and too big to ignore, these brands are poised, or already on the path, to creating a significant global footprint. PayTM’s growing mission to create a one-stop, mobile shop has caused it to flourish in the population-dense country of India, where online platforms serve a growing need to get things done, quicker and more conveniently. Launched in 2010, PayTM began as mobile charging and bill payment service and has since become a full mobile commerce platform, with 20 million registered users and growing. It’s poised to break through in other Asian markets, where the one-stop-shop proposition is becoming increasingly popular. The brand has featured in the category along with Xiaomi from China, WeChat from China and DJI Global from Hong Kong.
“In this ‘Age of You’ brands are being used by people to design better experiences in their day to day lives. That is what necessitates the conventional brands themselves to move at the Speed of Life. The Breakthrough Brands are born into the new cognitive era and are unencumbered. They can therefore create bespoke experiences per people’s needs and desire with a clear purpose to provide solutions through a sustainable business model. The task thus is not so much technology-out as much as it is solution focused. Then on, all the regular tools of running a good business need to be put in place – a scalable resource plan with internal clarity, responsiveness and governance models; external differentiation to ward –off imitability and consistency while the scale up. The stronger the solution and its focus, the better would be the earned media and buzz that are the decisive promotional vehicles for today’s breakthrough brands,” said Ashish Mishra, Managing Director, Interbrand India.