Brand Finance has assessed the impact of the Covid-19 outbreak based on the effect of the outbreak on enterprise value, as at 18 March 2020, compared to what it was on 1 January 2020. Based on this impact on enterprise value, Brand Finance estimated the likely impact on brand value for each sector. Each sector has been classified into three categories based on the severity of enterprise value loss observed for the sector in the period between 1 January 2020 and 18 March 2020.
David Haigh, CEO of Brand Finance, commented: "The Covid-19 pandemic and its impact on global markets is very real. Worldwide, brands across every sector are braced for the coronavirus to massively affect their business activities, supply chain and revenues in a way that eclipses the 2003 SARS outbreak.”
"Now is the ideal moment for Saudi Arabia’s brands to remain ever present in their stakeholders’ minds, engage across digital channels and show resilience and adaptability in these unprecedented times.”
Brand Finance released the KSA 50 report on Saudi Arabia’s top 50 most valuable and strongest brands. Among the top 50, there are 12 Saudi Arabian banks, symbolising the strength of the country’s banking brand presence. Al-Rajhi Bank (up 20% to $3.5bn) leads the pack, with NCB (up 5% to $2.6bn) and Riyad Bank (up 12% to $1.1bn) as the kingdom’s third most valuable banking brand.
Since its IPO last year, oil and gas giant Saudi Aramco are a new entrant at the top of the table with a brand value of $46.8bn, claiming the title of the Middle East’s most valuable brand. Saudi Aramco is focused on leveraging its strength in upstream, while growing its downstream operations through acquisitions, both in Saudi Arabia and key global markets. In order to clinch the title of the world’s most valuable oil and gas brand from rival Shell, Saudi Aramco must now focus on developing international perceptions of the brand in order to open it up further for partnerships and investment.
Telecoms brand STC (up 13% to $8bn) is now Saudi Arabia’s second most valuable brand, with chemicals giant SABIC (up 9% to $4.3bn) in third rank. STC recently launched its new unified brand identity to boost its role as a leading digital enabler in the region. The brand is highly regarded for its My STC app which provides users with access to all services including ordering devices and SIM cards.
Saudi Arabia’s third most valuable brand SABIC launched its first-ever global brand advertising campaign in a strategic effort to raise the company’s awareness, understanding, and engagement with global influencers as a part of its 2025 ambitions. Its growth reflects the growing positive perception of SABIC and its purpose of delivering Chemistry That Matters for its customers and other stakeholders.
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