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Amazon now the world’s most valuable brand

LONDON: US retail giant Amazon has moved past hi-tech titans Apple and Google to become the world’s most valuable brand.

The brand value of Amazon surged by 52% to US$315 billion, global market research agency Kantar said in its 2019 100 Top BrandZ report.

The Seattle-based retail behemoth, founded by Jeff Bezos in his garage in 1994, topped the table thanks to key acquisitions, superior customer services and a disruptive business model, Kantar said in a statement.

“Amazon’s smart acquisitions, that have led to new revenue streams, excellent customer service provision and its ability to stay ahead of its competitors by offering a diverse ecosystem of products and services, have allowed Amazon to continuously accelerate its brand value growth,” said Kantar.

The agency, which is owned by British advertising group WPP, added that Amazon showed “little sign” of any slowdown in its growth.

Amazon jumped from third to first place to eclipse Google which slid from first to third place with Apple holding on to the second spot.

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