Amazon has almost doubled its brand value to $316 billion, while expanding to fields like entertainment, while Alibaba is now the second most valuable retail brand, says a survey. Rising environmental concerns about fast fashion weighed on the brand values of Inditex's Zara, down 10 per cent to $23 billion, and H&M, down 39 per cent to $6.4 billion.
The ranking combines financial performance with consumer surveys in more than 50 countries, according to global newswires.
Both Alibaba and Amazon are growing more than others partly because of their activity outside retailing, said Graham Staplehurst, global strategy director for Kantar's BrandZ ranking.
Alibaba took second place from McDonald's even though the brand value of the world's biggest fast food chain grew 18 per cent to $130 billion as it offered healthier menus and more environmentally friendly packaging.
Source:Fibre2Fashion News Desk – India