Technology companies have continued to rise in Interbrand's ranking, with six out of the top ten most valuable global brands being active in the technology sector.
Apple Hailed the "Most Valuable Global Brand"
Apple grabbed the top spot and was hailed as the most valuable global brand in 2016. With a $178.11 billion increase, Apple's estimated brand value increased 5 percent. Google hit the second place with an estimated value of $133.25 billion comprising an 11% growth, while Coca-Cola bagged the third place, followed by Microsoft and Toyota.
Other Tech Players such as IBM, Samsung, Amazon, Mercedez-Benz, and General Electric filled out Interbrand's top 10, Android Authority reported.
Samsung Galaxy Note 7 Recall
Over the past month, Samsung was rocked by bad publicity due to the faulty batteries that led to the Galaxy Note 7 recall. Despite its negative effects on Samsung's other gadgets, the company still managed to keep its rank at #7 and increase its brand value by 14 percent with a whopping $51.8 billion increase.
Samsung's good overall performance and good reputation kept the brand impact of the Note 7 recall at a relatively minor scale.
2016 marks the 17th global brand ranking published by Interbrand, The U.K based company uses a combination of in-depth financial and brand analysis along with consumer research to determine the most valuable brands in the world.
Prada, Ralph Lauren Lose Ground in Brand Ranking
Bloomberg reported that Fashion labels have fallen a "little out of fashion" as Prada SpA dropped to 81st place from 69th, the Ralph Lauren Corp declined to 98th from 91st and Hugo Boss AG fell out of the top 100.
Interbrand's global director, Rebecca Robins said that the "brands has its own ups and downs, only those that have absolute clarity of brand message and consistency on the market succeed."
Which is the case for Hermes as it climbed 7 spots to the 34th place. That is partly because it is "very clear in terms of consistency," Robins said. Prada, in contrast, "overextended into retail," diminishing its brand.
