Mumbai: The ‘Tata’ brand has entered the list of top 100 most valuable brands according to the Brand Finance Global 500 2019 report released at the World Economic Forum in Davos.
Climbing from the 104th position to 86th position this year, the Tata brand is the only Indian brand in the Top 100.
The total value of brand ‘Tata’ increased 37 per cent to $19.5 billion in 2019 from $14.2 billion a year ago.
According to Brand Finance, a leading brand valuation and strategy consultancy, the increase in the valuation of the Tata brand is the result of:
· Improved performance of key Tata companies which include Tata Consultancy Services, Tata Motors and Tata Steel
· Inclusion of a wider number of Tata entities for a more segmented and complete view of the Tata Group Brand Value
· Increase in the Tata group’s overall brand strength
Mr. N Chandrasekaran, Chairman, Tata Sons said, “TATA has always been synonymous with trust and leadership and these brand attributes are even more important to all our stakeholders today. This recognition of the strength of our brand will encourage us to drive our businesses in a socially responsible manner globally while continuing to strive for excellence through innovation and entrepreneurship
Mr. David Haigh, Chief Executive Officer, Brand Finance, said, “Tata Group has seen an impressive increase in Brand Value in 2019, and have been rewarded by being the only Indian brand within the top 100 most valuable brands in the world. This solid increase in Tata Group’s brand value has largely been driven by an outstanding year for Tata Consultancy Services (TCS) who improved on their Brand Strength and are for the first time rated a AAA brand.”