Amazon, the most valuable brand in 2018-2019, continued to keep its position by breaking a $200 billion value mark, according to an independent business valuation consultancy firm's report on Wednesday.
Brand Finance's Global 500 2020 report said: "Defending its position as the world’s most valuable brand for the third consecutive year, Amazon has broken the so far unattainable $200 billion brand value mark."
The world's largest marketplace's brand value rose 17.5% to reach $220.79 billion in 2020, from $187.9 billion in 2019, according to the report.
Amazon’s brand value was over $60 billion than that of the global technology giant Google and over $80 billion compared to the famous technology company Apple's.
"The disrupter of the entire retail ecosystem, the brand that boasts the highest brand value ever, Amazon continues to impress across imperishable consumer truths: value, convenience, and choice," the report noted.
The report showed that Google was the second most valuable brand with $159.7 billion value, followed by Apple ($140.5 billion), Microsoft ($117 billion) and Samsung ($94.49 billion).
ICBC Bank, Facebook, Walmart, Ping An and Huawei were other most valuable brands among the top 10.
The technology sector dominated the top 500 firms with a total $986.5 billion brand value, while the banking and the retail sectors followed it with $926.4 billion and %794 billion, it added.
Among the top 500, the U.S. based brands' value amounted to $3.2 trillion, while Chinese brands' was $1.33 trillion and Japanese brands' $483 billion.Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.