Despite challenging market conditions and weaker domestic demand, the brand values of Vietnam’s most valuable food and banking brands have defied these odds. Banking brands recorded a combined brand value growth of 10% to USD13.8 billion, notably, 17 of 20 of the banking brands listed in our rankings recorded brand value increases. Vietcombank leads as the nation’s most valuable banking brand with a brand value increase of 7% to USD2 billion. VIB posted the largest brand value increase with a 51% growth to USD273 million.
Meanwhile, 7 of 11 Vietnamese food brands listed posted double-digit brand value increases, with the largest brand value increase from Chin-Su (brand value up 71% to USD123 million). Vinamilk leads Vietnam’s food brands with the highest brand value of USD2.6 billion, although this is 11% lower than its brand value in 2023. Vinamilk is also the 2nd most valuable Vietnamese brand, just behind Viettel (brand value up 0.2% to USD8.9 billion) which is the most valuable Vietnamese brand in our rankings.
Top 3 most valuable Vietnamese brands retain 2023 rankings; Viettel leads with brand value of USD8.9 billion, followed by Vinamilk and VNPT
Viettel is Vietnam’s most valuable brand for nine consecutive years, since 2015. The brand also improved its Brand Strength Index (BSI) score by 4.2 points to 89.4 of 100, while maintaining its excellent AAA brand rating. The growth in Viettel’s brand value and strength was primarily attributed to higher scores for metrics such as perceptions of the brand’s products and services, marketing efforts and sustainability aspects of community and governance. Notably, Viettel achieved full scores in metrics on perceptions of its customer service and the quality of its offerings. After Viettel, Vinamilk (brand value down 11% to USD2.6 billion) and VNPT (brand value down 3% to USD2.6 billion) complete the top 3 most valuable brands in the rankings.
Vinpearl reaches the BSI pinnacle as strongest brand in rankings, surpassing Viettel and Vietcombank
The strongest brand in this year’s rankings is Vinpearl (brand value up 34% to USD230 million), followed by Viettel and Vietcombank. Vinpearl and Vietcombank swapped places from last year’s ranking of the nation’s strongest brands among the 100 most valuable. Viettel advanced three places from fifth strongest brand last year, succeeding MB (brand value up 6% to USD853 million) which placed second strongest in 2023.
Vietnam’s largest brand value performers clock at least 83% growth with VinFast’s 142% in pole position
Vietnam’s three largest brand value gainers from different sectors added momentum to its decelerating economy forecasted this year, surpassing expectations with growths of at least 83%. VinFast’s 142% brand value growth to USD181 million makes it Vietnam’s largest brand value performer, with the brand having a comfortable lead over runners-up Vinschool (brand value up 109% to USD45 million) and Wake-up 247 (brand value up 83% to USD149 million).
Alex Haigh, Managing Director – Asia Pacific of Brand Finance, commented:
“Research from Brand Finance finds that a significant portion of Vietnamese brands from the food and banking sectors have shown resilience in challenging market demands, recording improvements in brand value. Commendably, the largest brand value increase among Vietnamese food brands is by sauce brand Chin-Su. Our findings demonstrate the strategic necessity of upkeeping brand strength.”
Viettel holds Vietnam’s highest Sustainability Perceptions Value of USD756 million
The 2024 Sustainability Perceptions Index finds that among brands in the rankings, Viettel has the highest Sustainability Perceptions Value of USD756 million.