Telstra is now Australia’s most valuable brand after increasing its brand value by 37% to $14.58 billion over the last year.
Australia’s biggest telco also climbed 35 places to be ranked 110 in the Global 500, according to analysis by Brand Finance.
“It is testimony to Telstra’s brand strength which has driven a significant increase in value despite only a 3.6% increase in revenue,” says Australia Brand Finance managing director, Mark Crowe.
Telstra displaced Woolworths, which dropped to second spot after seven years as Australia’s top brand.
“With sales expecting to slow at faster rates than rivals, the biggest challenge to Woolworths and other supermarket operators is coming from the German discount chain Aldi,” says Crowe. “This threat is exacerbated by weak brand and quality perceptions.”
The brand value of Woolworths fell 4% to $10.56 billion.
Here are the top 10 most valuable Australian brands:
The strength of the Australian banking sector is highlighted by the top four banks holding third to sixth places in the listing.
ANZ regained the number one bank rating, deposing the Commonwealth, through increased brand strength, fuelling a 25% increase in brand value.
“The Australian banks have all performed exceptionally well and have recorded increases in value, growing collectively by 3.6%,” Cow says.
The sector accounts for 33% of value in the top 100 brands.
Despite dropping one place to 4th, CBA remains Australia’s most powerful brand with a AAA brand rating. Here are the top 10 most powerful, as opposed to valuable brands:
Brand Finance judges brand strength by analysing marketing investment, brand equity (the goodwill accumulated with customers, staff and other stakeholders) and finally the impact of those on business performance.