On May 10, Kantar and Google released their 2021 BrandZ™ Top 50 Global Brands in China report. Xiaomi was ranked No. 4, along with Alibaba, ByteDance, and Huawei in the top four on the list. Another smartphone-maker, OPPO, was ranked 6th and was selected as the Outstanding Globalizing Chinese Global Brand Builder.
This is the fifth year that Kantar and Google have jointly released the “BrandZ™ Global Brands in China” research report.
Unlike in previous years, the report added four new emerging markets, including India, Indonesia, Brazil and Mexico, covering a total of 11 markets with great export potential for Chinese brands, and 15 in industries where Chinese brands are more active in overseas markets. The report committee selected the top 50 Chinese global brands by assigning scores to each company in one of three categories meant to represent “major elements of brand power” – the companies have to be meaningful, differentiated, and prominent.
Although the COVID-19 pandemic has had a significant impact on the global economy, Chinese businesses continue to invest in brand communication and innovation, and have demonstrated their determination to promote brand building and secure growth overseas.
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Since 2014, when Xiaomi went global, the company has entered more than 100 countries and regions around the world, and has become one of the world’s top three businesses in the smartphone industry, establishing a dominant position in a number of important markets. In 2020, overseas markets accounted for half of Xiaomi’s revenue, making it a truly global enterprise.
OPPO’s brand power has also grown, especially in developed markets, surging at a compounded growth rate of over 30% per year since 2018. In emerging markets, OPPO was ranked 2nd with outstanding brand power.
Kantar BrandZ™ is the world’s leading source of brand equity and valuation knowledge and insight. By surveying more than 860,000 consumers in 11 markets around the world, it aims to present the value of brands in the minds of global consumers.