Every year, Brand Finance, the leading brand valuation consultancy, conducts a comprehensive evaluation of 5,000 of the world’s most influential brands and publishes more than 100 reports that classify brands in various sectors and countries. Among these reports, the prestigious Brand Finance Global 500 2024 stands out, which presents the 500 most valuable and strongest brands in the world.
Spain is not far behind in this global ranking, with the presence of seven brands that stand out for their value and strength. These brands are Santander, Zara, Movistar, BBVA, Mercadona, CaixaBank and Iberdrola, the latter returning to the ranking after two years of absence. Unfortunately, Repsol, which was present in the 2023 ranking, failed to maintain itself.
The combined brand value of these seven Spanish brands amounts to an impressive €62.5 billion, representing an increase of 12% compared to the total value of the seven brands in 2023.
Pilar Alonso Ulloa, Managing Director Iberia (Spain, Portugal) and South America at Brand Finance, highlights the importance of these brands Spanish women in the global context. Not only do they represent Spain’s quality and innovation on the international stage, but they also contribute to the country’s economic growth and consolidate its position in the global arena.
Santander , the leader of Spanish brands, is ranked 101 in the global ranking of brands. Its brand value increased by 8%, driven by its growth in net profit. Despite a slight decline in brand strength, the bank climbs 15 places thanks to its position as the second largest lender in the eurozone and its strong marketing and image presence, backed by a large footprint and resources.
The second most prominent Spanish brand is Zara (Inditex group), which experienced a 43% increase in brand value due to its strong financial results. It climbs 61 places in the ranking, reaching 120th place. Its parent company, Inditex, achieved financial records in 2023 with six consecutive quarters of growth. The store simplification strategy resulted in a 13.5% increase in sales to €16,851 million. Present in 20 countries, including the United States, it is enjoying success both online and in physical stores. Inditex is confident in its growth trajectory for 2024.
Movistar , now ranked 290, is part of the top 3 of the Spanish brands in the ranking. Movistar Spain’s results for the third quarter of 2023 reflect the success of its growth and sustainability strategy. The new Movistar Plus+ commercial offering for IT services reflects its focus on innovation. Its parent company, Telefónica, is seeing a 1.8% increase in revenues thanks to organic growth.
Iberdrola , one of the brands returning to the ranking in 2024, is ranked 453rd with a 21.5% increase in brand value and a 4% increase in brand strength. This increase is due to improvements in consideration, recommendation and reputation. Iberdrola, the market value leader in Europe and second in the world, recorded solid financial results in the first months of last year and projects double-digit growth in net profit by the end of 2023.
BBVA (ranked 316 and a brand value that increased by 5%) closed 2023 with solid financial results in the first nine months, achieving a net profit of €5,961 million, an increase of 24.3% compared to the same period of the previous year.
Mercadona (ranked 395 and brand value that fell 4% due to a decrease in brand strength) achieved a 4% increase in sales, in contrast to the 0.2% decline in the sector. In addition, it continues to expand in Portugal, expanding its presence in the international market.
CaixaBank (404 position and a brand value that increases by 13%) stands out as the second fastest growing brand in positions in the ranking, rising 45 places. In addition, it shows a solid increase in brand strength, with an increase of 3.8%. This demonstrates the focus on innovation and quality that the brand has incorporated into its strategy.
In terms of brand strength, BBVA has the highest score among Spanish brands (86.53 out of 100), placing it among the 50 strongest brands in the world (position 30 out of 500 in the brand strength ranking). It is followed by Mercadona (83,37/100) and Iberdrola (78,50/100).
Apple , with a brand value of €482.1 billion, has experienced a notable increase despite a stagnation in iPhone sales. The company’s strategy to explore new markets, expand its ecosystem and encourage upgrades to higher-value iPhones has been effective. Apple maintains its dominant position in the high-end smartphone market, with a share of 71%.
Brand Finance’s market study revealed a significant increase among brands that have invested heavily in Artificial Intelligence. This has led NVIDIA to become the fastest growing brand in the world, with a 155% increase in its brand value, reaching €41.5 billion. NVIDIA, a leader in AI chips, is perceived as highly innovative, with increasing levels of familiarity, consideration and recommendation, according to the study.
In summary, the Brand Finance Global 500 2024 ranking highlights the value and strength of Spanish brands on the international scene, as well as the impact of innovation and investment in technology on the growth of global brands. Competitiveness and commitment to quality remain key drivers for the success of these brands in the global business world.