By Juliet Umeh
The 2020 Index released by FutureBrand has revealed that the oil-to-telecom conglomerate, Reliance Industries was the second biggest global brand after Apple Inc.
Reliance Industries is a telecom conglomerate in India owned by Mukesh Ambani.
The FutureBrand Index is a global perception study that reorders PwC’s Global Top 100 Companies by Market Cap on perception strength rather than financial strength.
According to FutureBrand, this year’s highest entrant at number two, Reliance Industries excels on every attribute.
It said: “very well respected” and “seen as behaving ethically” as well as being
associated with “growth”, “innovative products” and “great customer service,”
“In particular, people have a strong emotional connection with the organisation.”
It also noted that part of Reliance’s success could be attributed to Mukesh Ambani’s recasting of the firm as a one-stop-shop for Indians.
FutureBrand said: “The chairman built on the existing petrochemicals business, transforming it into a digital behemoth designed to meet every customer need.
“Today, this company is engaged in a number of sectors including energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Now that Google and Facebook are taking equity stakes in the firm, we may see Reliance jostling for the top spot in the next Index,” it said.
FutureBrand said six years on from the first FutureBrand Index, the world has changed dramatically, priorities have shifted and the globe’s top 100 companies are dealing with challenges unthinkable even 12 months ago.
“The FutureBrand Index is a global perception study that reorders PwC’s Global Top 100 Companies by Market Cap on perception strength rather than financial strength,” it said.
“While the FutureBrand Index 2020 has uncovered a number of seismic shifts in the way companies work and how they present themselves to the outside world, one key theme has stood out: individuality.”
The 2020 list is topped by Apple, while Samsung is ranked third, followed by Nvidia, Moutai, Nike, Microsoft, ASML, PayPal and Netflix.