Viettel, VNPT, Vinamilk, Vinhomes and Sabeco dominate the top 5 once again with a combined brand value of over US$13 billion. Viettel has retained its position at the top, with a brand value of US$5.8 billion. VNPT has maintained second position with a brand value of US$2.4 billion, followed by Vinamilk in third, with a brand value of US$2.1 billion.
The top 10 brands in the ranking have a combined brand value of US$17.7 billion, equating to 68% of the total brand value in the ranking. This highlights the significant effort required by the brands outside of the top 10 to improve their brand strength and boost revenue growth if they wish to compete against the leading brands across the nation.
There are two new entrants in this year’s ranking: Agribank which has entered the ranking in 6th and HDBank in 31st.
Viettel has once again shown its dominance across Vietnam as its claims the title of the nation’s most valuable brand for the 5th consecutive year. While many brands in the ranking have performed well this year in terms of brand value, it is brand strength that provides an opportunity for growth. With the top 10 in a league of their own, smaller Vietnamese brands should focus on their brand strength if they want to begin to rise as true competitors to the leading brands.Samir Dixit, Managing Director of Brand Finance Asia Pacific
In addition to measuring overall brand value, Brand Finance also evaluates the relative strength of brands, based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation. Alongside revenue forecasts, brand strength is a crucial driver of brand value.
This year, Vietcombank has overtaken BIDV to become the nation’s strongest brand, with a Brand Strength Index (BSI) score of 83.2 out of 100 and a corresponding AAA- brand strength rating. Vietcombank, Viettel and Vinamilk are now the only three Vietnamese brands with the AAA- brand strength rating.
Brand strength is an important indicator of a brand’s competitiveness within the market. Across the ranking, Vietnamese brands has remained fairly stagnant in terms of brand strength. While brands may be performing well locally, they have been losing out to other key competitors within the region.
Vietnamese companies need to be more brand-driven and not sales or offers-driven. While helping to sell in the short term, this strategy could destroy the long-term value and strength of the brand. Brand has got to be a strategic agenda for the senior management and boards and must be managed like any other business asset and not just a legal trademark.Samir Dixit, Managing Director of Brand Finance Asia Pacific