Popular Mexican beer Corona has emerged as the most valuable brand in Latin America, for the second consecutive year, according to 'BrandZ Top 50 Most Valuable Latin American Brands 2014' ranking.
Corona is now worth $8 billion after a 21 per cent increase in its brand value this year, according to the valuation carried out by Millward Brown Vermeer. The survey was commissioned by WPP, which calls itself the world's largest communications services group.
"Corona's continued strength reflects its solid brand positioning and the positive feelings consumers have towards it - both in Mexico and overseas," WPP said.
The BrandZ rankings are the only valuations in the world that take into account what people think about the brands they buy, alongside rigorous analysis of financial data, market valuations, analyst reports and risk profiles, it said.
Five of the top 10 are beer brands, three of which grew in 2014, helping to bolster the ranking's overall fall in value. The total brand value of the Top 50 declined 4.5 per cent to $129.2 from $135.3 billion in 2013.
The other beer brands in the top 10 include Skol from Brazil with a valuation of $7 billion at second spot, Brahma from Brazil at eighth position, followed by Aguila from Colombia and Modelo from Mexico at ninth and 10th ranks, respectively. The beer sector grew by 13 per cent during the year. (See Full Report)
Chilean chain of department stores Falabella was ranked at number three while Mexican telecom company Telcel occupied the fourth spot.
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