Interbrand Unveils Its Best Global Brands List for 2023

Interbrand announced its Best Global Brands 2023 ranking, revealing many of the world’s top 100 brands are in a state of stagnation. The rate of growth in the overall brand value of the table slowed sharply after last year’s significant increase, rising 5.7% this year compared to last year’s 16% increase, taking the total brand value to $3.3 trillion ($3.1 trillion in 2022).

Interbrand cites a lack of growth mindset, weaker brand leadership, and poor forecasting as the main reasons for the slowdown. This follows a longer-term trend in which brands operating exclusively in one sector were taking an incremental approach have experienced slower brand value growth.

“After a few years of strong brand growth, we have entered a period of stagnation, with this year’s table showing moderate growth in overall brand value among the world’s biggest brands,“ said Gonzalo Brujó, Global CEO of Interbrand. “Businesses which have witnessed a rise in brand value, including Airbnb (#46), LEGO (#59), and Nike (#9), have all transcended their established category norms and play a more significant and meaningful role in society and consumer’s lives. As we continue to navigate economic and environmental headwinds, there is a need for improved business cases and better brand management to drive future investment and sustain growth within traditional sectors and beyond.”

More than two decades of analysis show companies that address a more diverse set of customer needs, often across sectors, continue to dominate the top of the table, making up almost 50% of the total value. Based on the data, these companies operating across several different verticals are more stable, achieve higher top-line growth, remain more profitable, and benefit from a greater growth of brand value. For these companies, a focus on brand rather than product plays a greater role in driving choice (+12% vs average), meaning they can address more customer needs, within and across categories.

“A brand like Apple can no longer be ascribed to a sector. It competes across different Arenas, helping its customers Connect (the iPhone), but also Thrive (the latest Apple watch was positioned as a health device), Fund (its new savings account drew nearly $1 billion in deposits in the first four days), and much more. Apple’s move across Arenas has enabled it to hold the BGB top spot for the 11th year, having overtaken Coca-Cola in 2013,” said Manfredi Ricca, Chief Strategy Officer at Interbrand.

The technology sector once again dominated the top of the list. Tech companies grabbed the first five places (Apple, Microsoft, Amazon, Google, and Samsung), and 15 out of the first 25 places among the most valuable brands. Airbnb is this year’s top-rising brand with its value increasing +21.8%. It also jumped eight places in the table (from #54 to #46) despite only entering the ranking last year.

Automotive brand value rose by 9% in 2023, with BMW (#10) entering the top ten for the first time (#10). Porsche (#47), Hyundai (#32), and Ferrari (#70)all achieved a double-digit rate of growth and accounted for three of the top five fastest-growing brands. Tesla held its position in the table this year (#12), but its rate of growth was the slowest among the automotive brands with its brand value increasing 4.0% compared to BMW and Mercedes which grew 10.4% and 9.5% respectively.