BERLIN: Amazon has almost doubled its brand value to US$316 billion as it expands in areas like entertainment and smart speakers, while China's Alibaba is now the world's second most valuable retail brand, a survey showed on Tuesday.
The value of the Amazon brand jumped 91per cent, while Alibaba's rose 48per cent to US$131 billion, according to an annual ranking from ad group WPP and its data analytics unit Kantar, which combines financial performance with consumer surveys in more than 50 countries."Both Alibaba and Amazon are connecting with consumers across a wide variety of their needs," said Graham Staplehurst, global strategy director for Kantar's BrandZ ranking.
"There has been a significant improvement in perceptions about how responsible they are," Staplehurst said.Meanwhile, rising environmental concerns about the impact of fast fashion weighed on the brand values of Inditex's Zara, down 10per cent to US$23 billion, and H&M, down 39per cent to US$6.4 billion.