Sir Martin Sorrell speaks on Brand India, BrandZ report and more...
Global media and communications research agency Millward Brown, has announced the maiden BrandZ™ Top 50 Most Valuable Indian Brands 2014 on the 19th of August 2014. Commissioned by WPP and carried out by Millward Brown, BrandZ™ valuations rankings are the global rankings study that uses a unique brand valuation mechanism that combines officially released financial data and consumer-driven brand equity measurement to calculate brand value. The valuation study, which was introduced globally in 2006, in China in 2011 and Latin America in 2012, has seen a huge success and has received an overwhelming response in both markets as well as internationally. Currently in its ninth year, the BrandZ™ Top 100 Most Valuable Global Brands study aims to create a new milestone with the launch of its first Indian edition, BrandZ™ Top 50 Most Valuable Indian Brands. The rankings were unveiled on in the presence of WPP CEO Sir Martin Sorrell and other top executives of leading Indian agencies and brands.
Earlier to the brand report launch, Sir Martin Sorrell, caught up with members of the media for a special editorial meet, where he spoke of ‘brand India’, the expectations from Indian brands with regards to the report, what the next couple of years hold for Indian brands and agencies and much more.
Sorrell, when speaking about WPP’s India business, stated that India continues to be strong for WPP and has grown very significantly in 2014 than 2013. “For the first time, we will be crossing $500 million in revenues, and has been growing at 6-7 per cent per annum; that is an incredible achievement. Our share here is extremely strong across all our businesses that continue to perform very well. Sorrell however, regretfully mentioned that India for WPP is "under advertised" in comparison to WPP's operations in China. He mentioned the need and growing importance of domestic corporate that address and tap into the local opportunity first and then look outward.
With the Indian edition, the BrandZ Top Valuable Brands report enters a third market after China and Latin America. Elaborating on the plausible reason for this entry, he mentioned that one of the understandable reasons is the gigantic nature of the Chinese economy. “Also, after gaining success in China, we thought to then pick up India, which was in the list right from the start”, he mentioned
Commissioned by WPP, the ranking combines rigorously analyzed financial data from Bloomberg and Kantar Worldpanel with consumer opinions gathered from Indian consumers covering over 500 brands in 37 categories. In this study, brands meet the following eligibility criteria: Owned by a company which is publicly traded in India, reported positive earnings and bank brands derive at least 25 % of revenue from retail business