Business

Amazon dethrones Google as top global brand: Survey

LONDON : US retail giant Amazon has moved past high-tech titans Apple and Google to become the world's most valuable brand, a key survey showed yesterday.

The brand value of Amazon surged by 52 per cent to US$315 billion (S$430 billion), global market research agency Kantar said in its 2019 BrandZ Top 100 report.

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.

The Seattle-based retail behemoth, founded by Mr 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 slowdown in its growth.

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The top 10 companies were once again dominated by US firms, with Apple on US$309.5 billion, Google on US$309 billion and Microsoft on US$251 billion. - AFP

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