The 2019 (16th) “Top 500 World Brands” rankings compiled exclusively by WorldBrand Lab were announced on December 11 in New York, USA. Thanks to business growth in areas such as cloud computing and driverless driving, last year’s runner-up Google beat Amazon to the top of the list; Amazon retreated to second place; Microsoft, whose net profit increased significantly in fiscal 2019 Ranked third.
There are 40 Chinese brands selected. Among them, three Chinese brands related to textiles were shortlisted, namely No. 78 China Resources, No. 415 Hengli and No. 470 Weiqiao.
Except In addition, 29 of the world’s top 500 brands involve textile and apparel brands.
The World’s500 Most Influential Brands, released for 16 consecutive years, is judged based on the brand’s global influence. The so-called brand influence refers to the brand’s ability to develop the market, occupy the market and obtain profits. According to three key indicators of brand influence, namely Market Share, Brand Loyalty and Global Leadership, the World Brand Laboratory conducted a comprehensive score on 8,000 well-known brands around the world. Eventually the world’s 500 most influential brands were launched.
As for the global marketing strategies of Chinese brands in the digital era, Adam Galinsky, a professor at Columbia University Business School, believes that “in the global market with fierce brand competition, , companies usually face unexpected crises of their own making. Any multinational brand should prepare a quick, open, sincere and long-term crisis management method, especially a brand apology method. Apology can win brand loyalty.” Ziv Carmon, a professor at INSEAD in France, believes that “consumers in the digital age will conduct comparisons before purchasing. Indicating the side effects of products can increase the brand’s appeal. Customers will be more loyal to the brand because of this honest behavior. The brand creates a sense of trust. In addition, Chinese brands can make a fuss about ESG (environmental, social and governance), which is a shortcut to win the trust of consumers and investors.”
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