Amazon has finished ahead of Apple and Google after being crowned the world's most valuable brand in the latest Brand Finance Global 500 report.
Amazon has been named the world’s most valuable brand after seeing its value increase by 42% last year to a whopping US$150.8bn.
Since the brand’s humble beginnings as an online bookstore, Amazon has become the world’s largest internet business by both market capitalisation and revenue.
It is no longer just an online retailer, but also a provider of cloud infrastructure and a producer of electronics.
The company has continued to diversify, moving beyond the digital space following last year’s takeover of Whole Foods for US$13.7bn gave the brand a foothold in the realm of bricks and mortar.
Amazon is also present in shipping, music and video streaming, alongside industry speculation on an impending bank acquisition in 2018.
David Haigh, CEO of Brand Finance, said: “Jeff Bezos once said that ‘brands are more important online than they are in the physical world’.
“He has proved himself right by choosing the name Amazon, known as the largest, most powerful river in the world, as 23 years later the Amazon brand carries all before it as an unstoppable force.
“The strength and value of the Amazon brand gives it stakeholder permission to extend relentlessly into new sectors and geographies.
“All evidence suggests that the amazing Amazon brand is going to continue growing indefinitely and exponentially.”
For the first time since the inception of the Brand Finance Global 500 study, technology brands claim all top five places in the league table with Apple (2nd) Google (3rd) rounding of the top three.
Samsung (4th, US$92.3bn) and Facebook (5th, US$89.7bn) both recorded impressive year-on-year brand value growth of 39% and 45% respectively, overtaking AT&T (6th, US$82.4bn).
Change at the top is reflective of a wider global trend as the technology sector accounts for more than twice as much brand value as telecoms.
The dominance of digital is set to grow even more in the coming years as other brands make their way up the Global 500.
Google-owned YouTube more than doubled its brand value to US$25.9bn, jumping 70 places to 42nd.
Chinese technology brands, taking advantage of captive market conditions, can also boast high brand value growth, with Alibaba (12th), Tencent (21st), WeChat (49th), Baidu (57th), JD (65th), and NetEase (121st), going up by an average of 67% year-on-year.
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