The brand value of Godrej Group
stands at nearly $3 billion placing it above iconic brands
, including Nissan, HTC, Yamaha and Lenovo, says a report by a global brand consultancy Interband.
"The brand evaluation exercise which has been undertaken by the group for the first time, places it above iconic brands such as Nissan, HTC, Yamaha, Shiseido, Kraft, Lenovo, Harley Davidson and Burberry," Ashustosh Tiwari, Executive Vice-President, Strategic Marketing, Godrej Group, told reporters in Bangalore on Thursday.
"The strength of the brand evaluation which has valued Godrej at nearly $3 billion
, can be guaged from the fact that the 100th brand in Interbrand's global league table has a valuation that is similar," Tiwari said.
The methodology adopted goes beyond just evaluation figures, helping the business taking stronger decisions.
The valuation presents a critical milestone in Godrej's quest to position the 'Brighter Living' brand at the heart of its global organisation and will help the company to leverage the total value of its brand within the fast-changing Indian marketplace, he said.
The exercise has helped Godrej spotlight some key actions for the future like re-energising portfolio propositions and innovations around usage experiences, consumer empathy based research, institutionalising design as powerful lever for the future, shared knowledge management system especially across its globalised presence helping levergare consumer insights and brand platforms of higher value.
"By putting a distinctive brand at the core of our company actions across portfolio, we will be even better positioned to meet the advancing expectations of our consumers," he said.
"It will help us construct a brand-focused framework that will guide future decision making and create a common language understood by all our business units across India and beyond," Tiwari said.
The report (as on October 2010) reveals that Godrej masterbrand also accounts for more than 75 per cent of the total brand value. This value implies that more than 30 per cent of Godrej's firm value (Tangible capital+ brand and other intangibles).
The group reaches out to 500 million consumers across the country.